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Errett Lobban Cord

1894-1974

President Auburn Automobile Company

 

Errett Lobban "E. L." Cord (20 July 1894 – 2 January 1974) founded the Cord Corporation in 1929 as a holding company for over 150 companies, mostly transportation related, that he controlled. The corporation owned the Auburn Automobile Company, which manufactured both the Auburn and the Cord Automobiles. Other holdings included, Lycoming Engines; Duesenberg Inc.; New York Shipbuilding; Checker Cab; Stinson Aircraft Company; and American Airways (later American Airlines). The Aircraft Development Div, (Erret L) Cord Mfg Co, was instrumental in the development of the Vultee V-1 Airliner which spawned a series of airliners and military aircraft from the (Gerard Freebairn) Vultee Aircraft, Aviation Mfg Corp-AVCO.

Born in Warrensburg, Missouri, Cord was a race car salesman, mechanic and race car driver before he was offered the opportunity to manage the ailing Auburn Automobile Company in 1924. In 1928 he gained control of Auburn, which by 1931 ranked 13th as a seller of automobiles in the United States. During 1934, he moved to England, reportedly because of kidnapping threats. He moved back to the United States in 1936, but then came under investigation by the Securities and Exchange Commission for his dealings in Checker Cab stock. In 1937 he sold the Cord Corporation to the Aviation Corporation and retired to Los Angeles to earn a great fortune in real estate. Cord also acquired several of the first radio and television stations in California (KFAC in Los Angeles for example AC stands Auburn Cord). He acquired additional stations in Nevada, where he moved in the 1940s.

During the 1940s was appointed to the Nevada state legislature and gained fame as an effective politician in his later life. In 1958 he was asked to run for governor of Nevada, but he refused and never explained why. He died in Reno, Nevada from cancer in 1974, aged 79.


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