"The year was an unusual one." With this understatement, Chrysler President Lester Lum ("Tex") Colbert invited stockholders to Chrysler's annual meeting last week. Despite the majority of proxies safely in his pocket, Colbert knew that he was in for a rough day from a hard core of dissident minority stockholders. Chrysler's first quarter shipments in 1961 were down 57% from last year, with no great upturn forecast for the second quarter. To cut costs, nearly 7,000 salaried workers had been fired. "If we had been able to combine our progress in cost reduction...
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