Chrysler's brand-new President William Charles Newberg, 49, called in the press one day last week, smilingly posed beside brand-new 1961 models for pictures to be used when the cars go on sale in September and October. Elected president only nine weeks ago, he talked enthusiastically of plans for Chrysler's coming year. Two days later Chrysler Chairman Lester Lum ("Tex") Colbert called an emergency meeting of Chrysler's board of directors in Manhattan, and he and Newberg flew there from Detroit in two company planes. At the meeting, to the shocked surprise of Detroit insiders and outsiders alike, Newberg resigned.
Why? The...
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