Business: The Man on the Cover LYNN TOWNSEND & CHRYSLER'S COMEBACK

IT was a bumper-to-bumper year in Detroit. The big increase in auto sales this fall contributed more than anything else to keeping the U.S. prosperous; and one of the big contributors to the increase in auto sales was the long-ailing Chrysler Corp., which in the space of one year did a surprising turnaround. Thanks to the energetic leadership of its new president, Lynn Alfred Townsend, 43, Chrysler in 1962 was the comeback story of U.S. business.

Congenital Flaw. Chrysler still has a long way to come back, but at...

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!