Somebody in Detroit likes American Motors. Troubled by low sales, high costs and an "image lag" that keeps customers from its showrooms, the auto industry's fourth-ranking company has been retrenching heavily (TIME, Jan. 28). Last week, however, a Detroit millionaire from outside the industry thought he saw signs of hope: Robert B. Evans, 59, announced that he had bought over 200,000 shares of A.M.C. for almost $2,000,000 because he believes the company has "good prospects."
Evans, son of a prosperous manufacturer, increased his wealth by investing in real estate and in companies that manufactured road-building equipment, furniture and motors. His newest...
To continue reading:
or
Log-In
