MANAGEMENT: Payola at Chrysler

For Chrysler employees and stockholders, it was the second bad shock in a month. Just three weeks ago, amid rumors of corporate skulduggery. William Charles Newberg, 49, left the corporation only nine weeks after he took over as president. Last week the full extent of his shady goings on was made public. Chrysler announced that Newberg had agreed to return "profits in excess of $450,000 made by him from interests in vendor companies." Corporate executives at Chrysler, including Chairman Lester Lum ("Tex") Colbert, normally a vocal fellow, were just as reluctant to talk about this startling news as they...

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