Autos: Newberg Attacks Chrysler

After brooding for six months about being fired as president of Chrysler Corp., William C. Newberg, 50, decided that he had been played for a sucker. Last week Newberg, who was forced out because of profits he had made from ownership in two of the company's suppliers, sued Chrysler. He charged that Chrysler Chairman Lester Lum Colbert and fellow board members had used him as a scapegoat to prevent discovery of "incompetence, maladministration, neglect, breaches of duty and self-dealing" on their part. He asked for cancellation of his agreement to pay Chrysler the $455,000 profit he had made from...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!