Business & Finance: Autos by Fisher?

A break came last week in the fog of rumor which has swirled about the Fisher Brothers since they quit General Motors (TiME, Aug. 14). The Brothers filed incorporation papers in Lansing, Mich, for two new companies, Fisher Brothers, Inc. and Fisher Motor Car Co. (They had previously incorporated in Delaware.) The companies, each of which has 1,000 shares of no par common stock, declared their purpose to design, manufacture, sell, repair and deal in airplanes, automobiles and “any & all automotive products.” As usual, the Fishers kept their actual plans to themselves. Detroit’s guess: the Fisher plans are still nebulous, and formation of the companies at this time is merely to protect the Fisher name. But it was the first move of the Fishers to back up their promise to jump into the auto industry in a big way.