www.businessweek.com
August 23, 2007
by Christopher Palmeri
“McKeel Hagerty began noticing the trend a few years ago. As chief executive of Hagerty Insurance, the largest provider of insurance to classic-car collectors, Hagerty could see that the so-called “nerd cars”- the ugliest of automotive beasts – were nonetheless increasing in value. Ford Motor’s Pinto and American Motors’ Pacer and Gremlin – cars that were punch lines from the decade of disco – suddenly seemed hot. They weren’t increasing by much, Hagerty admits, from maybe $500 to a few thousand dollars. But still, money is money.”
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