AUTOS: The Battle at Chrysler

Hardly had Chrysler President Lester Lum ("Tex") Colbert gaveled the annual meeting to order last week than Detroit Lawyer Sol A. Dann, owner of 5,100 Chrysler shares and a self-styled management "gadfly," started a harangue that lasted better than half of the 2½-hour meeting.

To hear Dann—who has turned in similar performances at Studebaker-Packard and American Motors—tell it, Chrysler's directors were guilty of "nepotism, favoritism, payola, reckless disregard for the rights of shareholders, bribery, misconduct, perpetuation of themselves in office, creating a Pearl Harbor that would lead Chrysler to the same fate as Packard."

Colbert, at one point: "Are...

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