AUTOS: The Big Squeak

Last week the Chrysler Corp. knew how a car owner feels when everything goes wrong with his new car at once. The rattles began with the forced resignation of President William C. Newburg (TIME, July u), who was discovered to have owned interests in Press Products Inc. and the Bonan Corp., both Chrysler suppliers. The rattles show no sign of going away. Company auditors were investigating just about everyone in Chrysler's top echelon in search of financial links to Chrysler's suppliers. Irate stockholders, spurred on by the poorest first-half earnings of the big three automakers, threatened to sue the...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

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