Business: Home Free

From courtroom to boardroom

Two fellows who just missed getting jobs making license plates will soon be back behind the wheel of the world's largest truck and trailer producer. Robert D. Rowan, 57, former president and chief executive of Detroit's Fruehauf Corp., and William E. Grace, 70, the former chairman, were convicted in 1975 of defrauding the Government of $12.3 million in excise taxes. Though both are stitt on probation, next month Rowan will return to his $440,000-a-year job and Grace will become chairman of Fruehauf s executive committee.

A U.S. federal court in Detroit had ruled that from 1956 to 1965...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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