Compact Luxury Car
For Jordan and his company, 1926 was the best year of his life. His family was doing well, his cars were selling even better than they had in 1925. However Jordan made one calculated move that set the stage for his automobile company's failure when he introduced the ill-conceived 1927 Jordan Little Custom the first “compact” luxury automobile. With the Jordan Little Custom, Jordan guessed incorrectly that American car buyers would spend as much money for a well-appointed car that was compact and European in size. Had he attempted his gamble sixty years later perhaps he could have succeeded, but in 1927, Jordan couldn't give the cars away.
Jordan automobile production continued through 1931, but as losses from Little Custom mounted Jordan Motor Car bankers who held the liens assumed more of the daily control of the company. Both Jordan and his wife began selling off their stock shares in 1927 after the Little Custom failed. As the situation became more and more dire, Jordan and his wife still had their personal fortunes, but neither was willing to plow their own money into the company to save it.
As the auto company that he built began to strain under the weight of unsold cars, Jordan’s marriage was also heading for divorce. The couple, who had one son Jack, and two daughters Joan and Jane, ended the marriage in the early 1930. Publicly the separation was amicable, but Jordan was bitter about the divorce, causing a strain between himself and his now adult children.
Read more about this topic: Edward S. Jordan
Famous quotes containing the words compact, luxury and/or car:
“The Puritans, to keep the remembrance of their unity one with another, and of their peaceful compact with the Indians, named their forest settlement CONCORD.”
—Ralph Waldo Emerson (1803–1882)
“People buy their necessities in shops and have to pay dearly for them because they have to assist in paying for what is also on sale there but only rarely finds purchasers: the luxury and amusement goods. So it is that luxury continually imposes a tax on the simple people who have to do without it.”
—Friedrich Nietzsche (1844–1900)
“One way to do it might be by making the scenery penetrate the automobile. A polished black sedan was a good subject, especially if parked at the intersection of a tree-bordered street and one of those heavyish spring skies whose bloated gray clouds and amoeba-shaped blotches of blue seem more physical than the reticent elms and effusive pavement. Now break the body of the car into separate curves and panels; then put it together in terms of reflections.”
—Vladimir Nabokov (1899–1977)