For producing only one car… sniff, sniff.
John DeLorean was an American automobile engineer. A former GM exec well known for developing the Pontiac GTO and the Firebird, DeLorean was obsessed with the idea of creating his dream car, one that was “fun to drive, safe to operate, and long-lasting.” His eponymous DeLorean DCM-12 was first produced in 1981 and had a unique stainless steel finish with gull-wing-style flip-up doors. DeLorean came as close as anyone to successfully challenging the three overly powerful American carmakers. At the time, General Motors, Chrysler, and Ford were all shaking in their safety-buckles over actually having some American competition. On top of that, the car’s fame, and DeLorean’s own, were later catapulted into the stratosphere when the DCM-12 was immortalized as our favorite time machine (see RIFE №051).
Unfortunately, none of this would change the car industry the way it should have. The entrepreneur hit financial turmoil shortly after getting his company off the ground. And what, may you ask, does a venturesome car company owner do when he runs out of money?… He sells drugs.
Undercover federal agents proposed a drug trafficking deal to DeLorean that would supposedly bring in millions to save his business. In 1982, the industrialist was arrested by the U.S. government for trafficking cocaine.
John, you sold out to drug dealing and lost your car company. You couldn’t raise any more venture capital the legal way? People revered the car; if you asked for more money, they would have invested. You had a good thing going with the DeLorean Motor Company. I’m confident the auto industry would be different today if DMC continued with its innovations.
Of course, the feds are to blame too. John DeLorean was found NOT guilty due to entrapment. The FBI simply persuaded a desperate man to commit an act he would not have otherwise considered. Great detective work, guys!
Well, John, you gave a new meaning to the term car “dealer.” Rest in peace knowing, if given the chance, in today’s turmoil, the Big Three automakers would be more than happy to profit from a little booger sugar.