DailyTimeCapsule brief
February 18, 1981
On February 18, 1981, the city of New York appointed a new Deputy Mayor for Development, a significant move in the city's ongoing efforts to rejuvenate its economy. The appointment came at a critical time when the city was grappling with fiscal challenges, and strong leadership in development was seen as essential for attracting investment and revitalizing neighborhoods. Meanwhile, the world was witnessing a growing interest in innovative automobiles, highlighted by the announcement of Avrett as the first advertising agency for De Lorean Sports Cars, a brand that would soon become emblematic of both ambition and controversy in the automotive industry. Globally, tensions were palpable as the Cold War continued to shape international relations, and economic issues were a pressing concern in many countries, including the United States, where President Ronald Reagan was focusing on tax cuts and deregulation to spur growth.
Key developments
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Karen N. Gerard, a seasoned economist and vice president at Chase Manhattan Bank, was appointed as Deputy Mayor for Economic Policy and Development by Mayor Koch. This important position had been vacant for an extended period, underscoring the urgency of filling it with a qualified candidate capable of steering economic strategies in the city. Gerard's selection reflects the mayor's commitment to enhancing the economic landscape of New York City during a time of significant public concern regarding development and urban policy.
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Avrett, Free & Fischer has been appointed as the inaugural advertising agency for the De Lorean Motor Company, thus marking a significant step in promoting the company's innovative sports cars. These vehicles, noted for their distinctive stainless steel bodies, are set to make a grand entrance into the U.S. market by June 1981. This partnership highlights the synergy between specialized advertising expertise and a groundbreaking automotive venture.
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