Sunday 22nd January 1950

Throughout the twentieth century, independent automobile manufacturers have fallen again and again before the industrial power of the “Big Three”–Ford, General Motors, and Chrysler. Most often, these independent firms are swallowed, bought up, like Nash, Austin, Studebaker, Hudson, Packard, and many others. The story of Preston Tucker is a little darker. Tucker was a Chicago businessman who built 50 extraordinary automobiles in 1947 and 1948. His cars had many modern amenities and remarkable horsepower. But he was indicted on 31 counts of fraud; and as he fought for his freedom in court, his company failed. On this day in 1950, Preston Tucker was cleared of all fraud charges against him. But it was too little, too late. The Tucker automobile was history. Many believe that the legal actions against Tucker were sponsored by the Big Three auto makers, who feared his competition.