You Can't Make This Stuff Up!

[Lee Stewart]

[Lee Stewart]

[Lee Stewart]

[Lee Stewart]

[Lee Stewart]

[Lee Stewart]

Why Goodyear's Bizarre Glowing Tires Were A Failure

https://www.msn.com/en-us/autos/news...bbb08ee2da9880

[Lee Stewart]

Seeing this photo reminded me of an event that I had while working for Ford Motor Credit.

All the cars on a dealer's lot were financed by FMC - called a floor plan. The dealer paid interest on the wholesale cost of the car. When the car was sold and the dealer paid, he had 24 hours to get the money to FMC.

Every 60 to 90 days we did an audit of all dealerships in our division (greater Boston area). Just to make sure the dealers were on the up and up.

Cape Cod was in our division. There was a small Ford/Lincoln dealer down there. We had 2 dedicated audit people. But Ford had a rule - they could only audit the same delaer twice in a row. The third time had to be someone else - like one of us who worked in collections. And just by chance, I was given the list of cars to this CC dealer (I had to check to make sure each car was either on the lot - VIN had to match my list of VINs, paperwork was in process for sale or if a car was a loaner, the dealer had to produce the car while I was there.)

One car was missing - a 1973 Lincoln Contintential. "Where's the car?" I asked. The dealer started to mumble something. "You have in contract for sale?" He shook his head. "Did you loan it out?" He answered "yes." "Ok - call them and have them either drive the car here or tell me the address and I will go look at it." The dealer answered "that's going to be a problem."

The dealer loaned the car out to one of the Kennedys and they weren't returning his calls.

So I went to the Hyannis Police Dept. and explained the problem to them. "We can help you - follow us." They sent 3 cop cars and me to the Kennedy compound. We're all parked at the entrance to the compound - gated BTW - of course. Some guy comes over to see what the brohaha is. "There's a stolen car here! We want it. Let us in!" The guy almost passed out from fright - immediately opened the gates - we drive in. There sitting in the drive way is the Lincoln. Some one - a maid I think, comes out. "Give us the keys to this car immediately or we will arrest you for vehicle theft!" Man - she moved so fast. 10 seconds latter she runs out and hands the keys to the cop. He gets one of the officers to drive the car back to the dealership.

"I hate those Kennedy's - they think they are above everyone else. Thanks for this opportunity to show them they aren't." And he shakes my hand.

[njsteve]

Originally Posted by Lee Stewart

Seeing this photo reminded me of an event that I had while working for Ford Motor Credit.

All the cars on a dealer's lot were financed by FMC - called a floor plan. The dealer paid interest on the wholesale cost of the car. When the car was sold and the dealer paid, he had 24 hours to get the money to FMC.

Every 60 to 90 days we did an audit of all dealerships in our division (greater Boston area). Just to make sure the dealers were on the up and up.

Cape Cod was in our division. There was a small Ford/Lincoln dealer down there. We had 2 dedicated audit people. But Ford had a rule - they could only audit the same delaer twice in a row. The third time had to be someone else - like one of us who worked in collections. And just by chance, I was given the list of cars to this CC dealer (I had to check to make sure each car was either on the lot - VIN had to match my list of VINs, paperwork was in process for sale or if a car was a loaner, the dealer had to produce the car while I was there.)

One car was missing - a 1973 Lincoln Contintential. "Where's the car?" I asked. The dealer started to mumble something. "You have in contract for sale?" He shook his head. "Did you loan it out?" He answered "yes." "Ok - call them and have them either drive the car here or tell me the address and I will go look at it." The dealer answered "that's going to be a problem."

The dealer loaned the car out to one of the Kennedys and they weren't returning his calls.

So I went to the Hyannis Police Dept. and explained the problem to them. "We can help you - follow us." They sent 3 cop cars and me to the Kennedy compound. We're all parked at the entrance to the compound - gated BTW - of course. Some guy comes over to see what the brohaha is. "There's a stolen car here! We want it. Let us in!" The guy almost passed out from fright - immediately opened the gates - we drive in. There sitting in the drive way is the Lincoln. Some one - a maid I think, comes out. "Give us the keys to this car immediately or we will arrest you for vehicle theft!" Man - she moved so fast. 10 seconds latter she runs out and hands the keys to the cop. He gets one of the officers to drive the car back to the dealership.

"I hate those Kennedy's - they think they are above everyone else. Thanks for this opportunity to show them they aren't." And he shakes my hand.

Looks familiar. Here's my Grampa's 71 Golden Anniversary Continental. And he paid for it - we got the paperwork to prove it from Eastchester Lincoln Mercury.

Well, actually ABC Television paid for it under the X-plan (I think that's what the paperwork says?) but my Grampa negotiated the deal as he was a hands-on executive. He was eventually given the car when he retired in 1972 as the VP of ABC.

[Lee Stewart]

[Lee Stewart]