Monday, October 12, 2009

Dowturns are all alike

It was not a good time [1976] to be in the car business. The Arab oil embargo was on, and interest rates were out of sight. Many of the solid, working-class Americans to whom Philip [Reed] had sold Chevrolets had been laid of and were unable to meet their ballooning credit payments. Reed had quickly discovered that repossession was not only nasty, it was unprofitable. He could recover the cars, but the real problem was selling them again. (pg. 157)

Once Upon A Time in ComputerLand, Jonathan Littman

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