$2,000,000 Vote of Confidence

Somebody in Detroit likes American Motors. Troubled by low sales, high costs and an "image lag" that keeps customers from its showrooms, the auto industry's fourth-ranking company has been retrenching heavily (TIME, Jan. 28). Last week, however, a Detroit millionaire from outside the industry thought he saw signs of hope: Robert B. Evans, 59, announced that he had bought over 200,000 shares of A.M.C. for almost $2,000,000 because he believes the company has "good prospects."

Evans, son of a prosperous manufacturer, increased his wealth by investing in real estate and in companies that manufactured road-building equipment, furniture and motors. His newest investment makes him A.M.C.'s largest single shareholder. He will probably take a seat on the board, but says he presently approves of A.M.C.'s management. Up to now, Evans has been best known as the financial backer and co-designer of a jet hydroplane that was built five years ago with the specific aim of setting the world's powerboat record. It never did.

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