Preston Tucker
Preston Thomas Tucker (September 21, 1903 – December 26, 1956) was an American automobile designer and entrepreneur. He is most remembered for his 1948 Tucker Torpedo, an innovative post-war automobile which many believe changed the automotive industry. His legacy was documented in the 1988 movie, Tucker: The Man and His Dream. Starring Jeff Bridges, the film was produced by George Lucas and directed by Francis Ford Coppola. Tucker's defense attorney William T. Kirby became Chairman of the Board of the John D. and Catherine T. MacArthur Foundation.
Tucker was born in Capac, Michigan and is remembered for his charming personality. He repaired an old car and sold it at age 16, combining his charm with a love of automobiles. He later joined the Lincoln Park police department to get access to the high-performance automobiles they used. His mother convinced him to seek employment on the Ford assembly line in Dearborn, but Tucker quickly returned to his more exciting job as a police officer. He was demoted for installing a heater in the dashboard of his car, and quit for good. Tucker's next career was as a car salesman. He was successful in selling cars at a Michigan dealership and soon became the manager of a luxury car dealership in Memphis, Tennessee.
Entrepreneur
With this new financial success, Tucker began an annual journey to the Indianapolis 500. His enthusiasm for automobiles again getting the better of him, Tucker convinced Harry Miller, maker of more Indy 500-winning engines than any other in those years, to join him in building an Indy car. Tucker intrigued Edsel Ford to take on the design, which used a modified Ford V8, as a Ford entrant at the race. The time to develop and test the car was insufficient, however, and the steering boxes on all entrants overheated and locked up, causing them to drop out of the race. The design was later perfected by privateers, with examples running at Indy through 1948, but Tucker's days as a race car builder were over.
Tucker moved back to Michigan intending to start his own auto company. He soon began designing a narrow-wheelbase armored combat car for the Dutch government. The car could reach 80 mph (130 km/h), far in excess of the design specifications. Although the Nazis invaded before the cars could be built, the highly-mobile gun turret design brought the interest of the U.S. Navy. The Tucker Turret was soon in production — it was used in PT boats, landing craft, and B-17 and B-29 bombers. During World War II, Tucker managed one of the shipbuilders for the war effort.
The 1948 Tucker Sedan
A Tucker '48 Sedan patent illustration.
Main article: 1948 Tucker Sedan
Studebaker was the first automobile company with an all-new post-war model. But Tucker with his newly founded Tucker Corporation took a different tack, designing a safety car with innovative features and modern styling. His specifications called for a rear engine like Porsche, disc brakes, fuel injection, the location of all instruments on the steering wheel, and a padded dashboard.
Famed stylist Alex Tremulis, previously of Auburn/Cord/Duesenberg, was hired on December 24, 1946 and given just six days to finalize the design. On December 31, 1946, Tucker approved the design, which would come to be popularly known as the "Tucker Torpedo". He had also hired another firm to create an alternate body, but only the horizontal taillight bar from that model appeared on the final car.
Demise of Tucker Corporation
One of Tucker's most innovative business ideas caused trouble for the company, however. His Accessories Program raised funds by selling accessories before the car was even in production. This concept was investigated by the U.S. Securities and Exchange Commission and the United States Attorney, and led to an indictment of Tucker and six other Tucker Corporation executives for fraud on June 10, 1949.
The trial began on October 4, 1949; coincidentally Tucker Corporation's factory was shuttered by the government on the very same day. All told 37 Tucker '48s had been built, 13 were later finished from parts stores for a total production of 50 cars (not including the prototype). At trial the government contended that Tucker never intended to produce a car. After the Christmas recess, the trial turned in Tucker's favor. It went to the jury on January 22, 1950, and Tucker and the other executives were acquitted on all charges just seventeen hours later. However, Tucker Corporation, now without a factory, was no more.
The location of the former Tucker Corporation at 7401 S Cicero Ave, Chicago, IL 60629-5818, is now the corporate headquarters of Tootsie Roll Industries.
Later life
Preston Tucker's reputation rebounded after the acquittal. Investors from Brazil even approached him about building a sports car, the "Carioca". But he died from cancer before the project saw fruition. Ironically, Otto Kerner, the US Attorney who had aggressively investigated Tucker for fraud, became the first Federal appellate judge in history to be jailed — for stock fraud.