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Tuesday, October 31, 2023

Treasure

Treasure (pronounced trezh-er)

(1) Wealth or riches stored or accumulated, especially in the form of precious metals, money, jewels, or plate; wealth, rich materials, or valuable things.

(2) A thing, beast or person greatly valued or highly prized.

(3) As the verbs treasured & treasuring, carefully to retain or keep in store, as in the mind; to regard or treat as precious; cherish; to put away for security or future use, as money.

(4) A term of endearment in the sense of “cherish” (archaic).

1125–1175: From the Middle English tresor, (displacing the native schat) from the Old French tresor (treasury, hoard, treasure (trésor in Modern French)), from the Gallo-Roman tresaurus, from the Latin thēsaurus (storehouse, hoard; anything hoarded (source also of Spanish & Italian tesoro)), from the Ancient Greek θησαυρός thēsauros (store, treasure, treasure house) (related to tithenai (to put, to place), from a reduplicated form of the primitive Indo-European root dhe- (to set, put).  In Middle English there was also the spelling thresur, the modern spelling is from the sixteenth century.  It replaced the Old English goldhord & maðm and the meaning extended from hoards of precious metals etc to a general sense of "anything valued" from circa 1200.  The verb emerged in late fourteenth century Middle English, a derivative of the noun.  It meant literally "to amass treasure; to store up for the future" but was used also in the figurative sense as "regard as precious, retain carefully in the mind" from treasure.  The first recorded treasure hunt happened in 1913 a relatively modern alternative spelling was the now almost extinct treasuer.  Treasure is a noun & verb, treasurable & treasureless are adjectives, treasury, treasurership, treasuress & treasurer are nouns, treasuring is a verb and treasured is a verb & adjective; the noun plural is treaures.

The noun treasurer was from the late thirteenth century, from the Old North French & Anglo-French tresorer & and the Old French tresorier, from tresor.  The noun treasury (a room or vault in which to store and safeguard treasure) dates from circa 1300, from the eleventh century Old French tresorie (treasury), from tresor.  The meaning "department of state that controls public revenue" was recorded from late the late fourteenth century and the first treasury bill was issued in 1797.  An Old English word for "room for treasure" was maðm-hus and for "treasury", it was feo-hus (connected to the modern fee).  There is a connection with the noun hoard, from the Old English hord (a treasure, valuable stock or store, an accumulation of something for preservation or future use and hence "any mass of things preserved by being deposited together," from the Proto-Germanic huzdam (source also of Old Saxon hord (treasure, hidden or inmost place)).  It was cognate with the Old Norse hodd, the German Hort and the Gothic huzd (treasure; literally "hidden treasure"), from the primitive Indo-European root (s)keu- (to cover, conceal).

T-Paper

US Treasury Building, Washington DC.

T-paper (Treasury-paper) is the collective term for securities issued by United States Treasury.  The US Treasury Department sells bills, notes, and bonds at auction with a fixed interest rate.  When demand is high, bidders pay higher than face value to receive the interest rate.  When demand is low, they pay less, thus the yield declines as the price rises; at times of crisis, yield drops as investors seek security at the expense of income.  T-paper gained the name from being once issued on physical paper or cardboard) but are exist in now digital form and are also referred to as “Treasurys”.

1864 US $100 three-year treasury note (6% annual interest rate, compounded semi-annually, payable at maturity); a bearer-bond, paid over-the-counter, to whomever held the physical paper.  

Although physical paper is no longer much associated with T-paper, a linguistic legacy persists in the “coupon stripping” market.  There’s long been a secondary market for T-paper, one flavor of which is where the interest and principal components have been separated, or "stripped" so they may be re-sold as separate products.  The name is derived from the days of paper and cardboard when traders literally would separate the paper interest coupons from the paper securities.  In the secondary market, the two pieces of paper than became independent retail items, one yielding interest, the principal re-sold as a zero-coupon bond.  The correct name in the digital age is Separate Trading of Registered Interest and Principal Securities (STRIPS).  STRIPS, more than some other products, reflects the dual role of the Treasury as both regulator and participant in the financial gambling market, not itself an issuer of STRIPS (that part of the market reserved for brokers and the non-retail arms of banks), instead the maintaining the transaction and ownership register.

1976 US $5000 ten-year treasury note with 8% rate.

The difference in types of T-Paper are defined by the length of the term: the time until the bond the matures at which point it is repaid.  All T-paper are really bonds, the nomenclature just part of the jargon of the industry.  Treasury Bills are issued for less than a year, Treasury Notes for 2, 3, 5, and 10 years and Treasury Bonds for 30 years.  Still unconfirmed is whether recent discussions by Treasury about longer-term bonds will be pursued although demand seemingly exists, fifty and even hundred-year bonds mentioned.  There has been speculation about the demand which, given the amount of money said now to be “sloshing around” the system, wasn’t unexpected and the large holdings of various sovereign wealth funds may also find the longer terms attractive, for reasons political as well as fiscal.  It anyway represents one school of thought on what to do about the money supply. 

A more recent creation is the Treasury Inflation-Protected Security (TIPS), bond, the principal of which is indexed against inflation using the Consumer Price Index (CPI).  As the CPI rises, the principal is adjusted upward; if the index falls, the principal is adjusted downwards, the coupon rate remaining constant, but generating a different amount of interest when multiplied by the inflation-adjusted principal.  This has the effect of protecting the holder against the inflation rate as measured by the CPI.  The current version of TIPS was created in 1997 and is offered with five, ten and thirty year maturities.

Spikes and waves:  US T-Note yield against inflation projections and outcomes with events noted, 2000-2020.

Inflation-indexed bonds became common in government bond markets in the late twentieth century, many emerging in the inflationary environment which followed (1) the distortions in US government spending the 1960s, (2) the structural changes to the Bretton-Woods system in the 1970s  and (3) the consequences of the oil shocks in the same decade; they’re essentially a form of hedging.  In the orthodox bond market, even those issued for long terms promise the holder a fixed dollar (or whatever currency) income flow for the term of issue.  That contrasts with the outgoings of an individual or corporation because prices tend quickly to adjust to external changes and unexpected changes can increase the general level of prices, altering the real purchasing power of money which is a risk to both holders and issuers of orthodox bonds.  The indexed bond substantially reduces this risk in that the lender’s receipts and the borrower’s payments become linked to movements in the general price level.

Lindsay Lohan attending the LA premiere of Treasure Planet, Cenerama Dome, Hollywood, California, November 2002.

Again, while used as a hedge, it is still a gambling market, the incentive for governments, beyond the political attractions of being able to offer the product, being the ability substantially to reduce borrowing costs  The UK government first issued indexed bonds in 1981 as a part of an attempt to reduce (it was actually an attempt to kill) inflation.  The markets however had noted the post-war performance of successive governments and were sceptical, holders of orthodox bonds, in effect, charging the government on the basis of an inflation rate substantially higher than the government intended the outcome to be.  This is how gambling works.  In issuing indexed bonds, simultaneously the government flagged a new seriousness in monetary policy and an intent to reduce funding costs by promising to compensate investors for high inflation only if inflation did not fall.  Unexpectedly, the government’s strategy proved successful and substantial savings in borrowing costs were realised.  The effect of the increase in the money supply induced by the COVID-19 responses will ultimately produce higher inflation because, unlike the restorative measures in the wake of the global financial crisis (2008-2011) which essentially gave money only to the rich, greater disposable income was gained more widely.  If the inflation is sustained or (in response to new, unexpected events) spikes, New Zealand's approach (which included products actually marketed as "inflation-proof bonds") might be re-visited.   

The New Zealand experience was different but the small size of the market, while making it an interesting and manageable thing for modelers and analysts, does mean caution must be taken if attempting to apply that experience at scale.  The NZ government issued inflation-adjusted government securities between 1977-1985 and, in a period of historically high inflation, they were popular, eventually accounting for some 15% of domestic debt on issue.  Post-war NZ had evolved into what is possibly the West’s most extreme example of an open political system being combined with a highly regulated economy and that did tend to work until the convulsions of the 1970s to which the NZ hybrid proved unable to adjust.  The adjustments were made after a change of government in 1984 and the inflation adjusted bonds offered by tender in 1983-1984 entered a market where the official inflation target was considerably lower than the buyer’s expectation.

New Zealand Consumer Price Index (CPI) 1970-2015.

Almost immediately, the new government ceased issuing indexed debt.  Perhaps paradoxically, the same credibility gap confronted the government in its own use of more orthodox methods to cut inflation.  Because it was expected the costs of selling long-term nominal bonds would be high, in 1986, issues longer than five years were suspended, the government making clear that would prevail until their inflation target had been met or exceeded.  The approach, while textbook correct, wasn’t without risk because, although shortening the term of a government’s nominal debt can be an appropriate response where inflation outcomes are uncertain, it does heighten the risk of higher costs when rolling-over maturing debt.  As it turned out, for one reason and another, some fairly brutal, inflation was tamed and in 1995, the government returned to the index-linked market.  Many countries created markets, Finland and some of the Nordic zone as early as 1945 and Israel ten year later.  A cluster of Latin American countries issued between 1964-1972 and a number of OECD nations followed the New Zealand and UK in the 1980s although the US Treasury wasn’t active until 1997.

Wednesday, January 17, 2024

Cameo

Cameo (pronounced kam-ee-oh)

(1) A technique of engraving upon a gem or other stone, as onyx, in such a way that an underlying stone of one color is exposed as a background for a low-relief design of another color.

(2) A gem or other stone so engraved; a medallion, as on a brooch or ring, with a profile head carved in relief

(3) A literary sketch, small dramatic scene, or the like, that effectively presents or depicts its subject.

(4) As "cameo, "cameo role" or "cameo appearance", a minor part played by a prominent performer in a single scene of a production, originally un-credited yet deliberately obvious (a la Alfred Hitchcock (1899–1980)).  In modern use, the sense has extended to any brief appearance, credited or not.

(5) In commercial use, a color of creamy neutral ivory, the name an allusion to the hue most associated with the jewelry.

(6) The industry slang for "cameo lighting", a technique used on stage or set usually by restricting the output of a spotlight to a narrower beam and the reverse effect of "silhouette lighting" (a complementary chiaroscuro technique).  

1375–1425: From the Italian cam(m)eo from the Old French camaieu, of uncertain origin; replacing late Middle English camew & cameu both direct borrowings from the Old French.  The ultimate root is held usually to be the Medieval Latin cammaeus (later camaeus), of unknown origin but both the Arabic qamaa'il (flower buds) and the Persian chumahan (agate) have been suggested as the source.  Cameo is a noun & verb and cameoed & cameoing are verbs; the noun plural is cameos or cameoes.

In the early fifteenth century, kaadmaheu, camew, chamehieux and many other spellings, all from the early thirteenth century in Anglo-Latin circulated, all meaning "engraving in relief upon a precious stone with two layers of colors" (such as onyx, agate, or shell and done so as to utilize the effect of the colors).  These fell soon from use as the words derived from the Medieval Latin cammaeus and the Old French camaieu prevailed.  By the nineteenth century, use extended to other raised, carved work on a miniature scale.  The transferred sense of "small character or part that stands out from other minor parts" in a plays etc is from 1928, a derivation from the earlier meaning "short literary sketch or portrait", first noted in 1851, a transferred sense from cameo silhouettes.  A cameotype was a small, vignette daguerreotype mounted in a jeweled setting, the first examples of which were produced in 1864.

Cameo & Silhouette

A classic, simple silhouette (left), a nineteenth century hardstone cameo in 18 karat yellow gold in the mid-nineteenth century Etruscan Revival style (centre) and a  silhouette with the detailing which became popular in the late 1700s (right).

As artistic representations, there's obviously some overlap between a silhouette and a cameo but they are different forms.  A silhouette is inherently a two dimensional rendering of a shape (typically a portrait but they can be of any scene or object) which classically were simple and of a solid colour (usually black) on a contrasting (usually white or cream) background.  Originally, there was no detailing of features but that soon became common.  Silhouette portraits were highly popular in the eighteenth & nineteenth centuries and the form was especially popular with untrained (indeed unskilled) amateurs because of the cheapness and simplicity of the form, a finished work requiring little more than two sheets of paper (black & white), a pair of scissors and a pot of glue.  A cameo differs in that it is three-dimensional, an embossed or raised piece, usually in relief.  The most prized antique cameos are those engraved on semi-precious gemstones, agate, forms of onyx, shells and lava but in modern use synthetic materials are not uncommon and, being small and able to be rendered in a single piece, can be 3D printed although the quality of these doesn’t (yet) match something hand-carved.

Cameo.com

Launched in March 2017, cameo.com is a US-based distribution & content-sharing website, its niche being a platform on which celebrities and others can sell personalized video messages to fans or anyone else prepared to pay, the site claiming more than thirty-thousand sources are available.  The price per clip is said to extend from US$5 to US$3000 and operates as a dynamic supply and demand curve, the price said to rise or fall in response to elasticity in demand, all determined by an AI algorithm which is predictive (able to anticipate a rise in demand and adjust prices accordingly).

For US$400 (or US$20 for a DM), one can receive a personalized video message from Lindsay Lohan.  The service limits the text to two-hundred and fifty (250) characters so economy of language is encouraged.  The client is able to request the theme and possible topics might include relationship counselling, fashion advice, career management & international relations.  In most cases, it seems not necessary to approach this with undue urgency, many of the celebrities available on Cameo.com "for a limited time!" have been listed for some years.

Lindsay Lohan at the Mean Girls (2024) premiere, New York, January 2024.

Lindsay Lohan’s cameo in the 2024 (musical) re-make of Mean Girls (2004) attracted comment for a number of reasons but what most impressed many was the fee, reported by entertainment industry magazine Variety as US$500,000.  While that sum is unverified, what has been confirmed is that her cameo (in the math competition scene) required four hours on set; given the simplicity of the math, Variety didn’t bother printing its calculation of the hourly rate but given the 2004 production was shot over three months for which Ms Lohan was paid a reputed US$1 million, it’s clear inflation alone doesn’t account for the differential.  Still, any commodity is worth only what a buyer is prepared to pay and it’s a specialized supply & demand curve because there’s only one Lindsay Lohan.

Friday, August 26, 2022

Vogue

Vogue (pronounced vohg)

(1) Something in fashion at a particular time or in a particular place.

(2) An expression of popular currency, acceptance, or favor.

(3) A highly stylized modern dance that evolved out of the Harlem ballroom scene in the 1960s, the name influenced by the fashion magazine; one who practiced the dance was a voguer who was voguing.

(4) In Polari, a cigarette or to light a cigarette (often in the expression “vogue me up”).

1565–1575: From the Middle English vogue (height of popularity or accepted fashion), from the Middle French vogue (fashion, success (literally, “wave or course of success”)), from the Old French vogue (a rowing), from voguer (to row, sway, set sail), from the Old Saxon wegan (to move) & wogōn (to sway, rock), a variant of wagōn (to float, fluctuate), from the Proto-Germanic wagōną (to sway, fluctuate) and the Proto-Germanic wēgaz (water in motion), wagōną (to sway, fluctuate), wēgaz (water in motion) & weganą (to move, carry, weigh), from the primitive Indo-European weǵh- (to move, go, transport (and an influence on the English way).  The forms were akin to the Old Saxon wegan (to move), the Old High German wegan (to move), the Old English wegan (to move, carry, weigh), the Old Norse vaga (to sway, fluctuate), the Old English wagian (to sway, totter), the Proto-West Germanic wagōn, the German Woge (wave) and the Swedish våg.  A parallel development the Germanic forms was the Spanish boga (rowing) and the Old Italian voga (a rowing), from vogare (to row, sail), of unknown origin and the Italianate forms were probably some influence on the development of the verb.  Vogue & voguer are nouns (voguette an informal noun), voguing is a noun and adjective, vogued is a verb and vogueing & voguish are adjectives; the noun plural is vogues.

All etymologists seem to concur the modern meaning is from the notion of being "borne along on the waves of fashion" and colloquially the generalized sense of "fashion, reputation" is probably from the same Germanic source.  The phrase “in vogue” (having a prominent place in popular fashion) was recorded as long ago as 1643.  The fashion magazine (now owned by Condé Nast) began publication in 1892 and the young devotees of its advice are voguettes.  In linguistics, vogue words are those words & phrases which become suddenly (although not always neologisms) popular and fade from use or becoming clichéd or hackneyed forms (wardrobe malfunction; awesome; problematic; at this point in time; acid test; in this space; parameters; paradigm et al).  Because it’s so nuanced, vogue has no universal synonym but words which tend to the same meaning (and can in some circumstances be synonymous) include latest, mod, now, rage, chic, craze, currency, custom, fad, favor, mode, popularity, practice, prevalence, style, stylishness, thing, trend & usage.

Lindsay Lohan cover, Vogue (Spanish edition), August 2009.


In Cornwall, the hamlet of Vogue in the parish of St Day gained its name from the Medieval Cornish vogue word for a medieval smelting furnace (blowing house); producing much smoke, vogue was also a word used to mean “fog or mist”.  Clearly better acquainted with law than geography, in early 2022 counsel for Condé Nast sent a cease and desist letter to the inn-keeper of the village’s The Star Inn at Vogue pub, demanding the place change its name to avoid any public perception of a connection between the two businesses.  The pub’s owners declined the request and Condé Nast subsequently apologized, citing insufficient investigation by their staff.

1981 Range Rover In Vogue from the first run with the standard stylized steel wheels (left) and a later 1981 In Vogue with the three-spoke aluminum units.

Much of the 1970s was spent in what to many felt like a recession, even if there were only some periods in some places during which the technical definition was fulfilled and the novel phenomenon of stagflation did disguise some of the effects.  Less affected than most (of course) were the rich who had discovered a new status-symbol, the Range Rover which, introduced in 1970 had essentially created the luxury four-wheel-drive (4WD) segment although the interior of the original was very basic, the car’s reputation based on the excellence of the engineering.  So good was the Range Rover, both on and off-road that owners, used to being cosseted in leather and walnut, wanted something closer to that to which they were accustomed and dealers received enquiries about an up-market version.

Lindsay Lohan at the opening of the Ninety years of Vogue covers exhibition, Crillon Hotel, Paris, 2009.

That had been Rover’s original intention.  The plan had been to release a basic version powered by four cylinder engines and a luxury edition with a V8 but by 1970 time and development funds had run out so the car was released with the V8 power-train and an interior so utilitarian it could be hosed out, something which was touted as a competitive advantage although it’s doubtful it was a feature many owners chose to exploit.  However, if the rich were riding out the decade well, British Leyland (which owned Rover) was not and it lacked the resources to devote to the project.  Others took advantage of what proved a profitable niche and the rich could choose from a variety of limited-production and bespoke offerings including long-wheelbase models, four-door conversions, six wheelers and even open-topped versions from a variety of coach-builders such as Wood & Pickett and low-volume manufacturers like Switzerland’s Monteverdi which anticipated the factory by a number of years with their four-door coachwork.

Rendez-vous à Biarritz, Vogue magazine, March 1981.

However, British Leyland was soon subject to one of the many re-organizations which would seek (without success) to make it a healthy corporation and one consequence was increased autonomy for the division making Range Rovers.  No longer forced to subsidize less profitable arms of the business, attention was turned to the matter of a luxury model, demand for which clearly existed.  To test market reaction, in late 1980, the factory collaborated with Wood & Pickett to design a specially-equipped two-door model as a proof-of-concept exercise to gauge market reaction.  The prototype (HAC 414W) was lent to Vogue magazine, a crafty choice given the demographic profile of the readership and the by then well-known extent of women’s own purchasing power and influence on that of their husbands.  Vogue took the prototype to Biarritz to be the photographic backdrop for the images taken for the magazine’s co-promotion of the 1981 Lancôme and Jaeger fashion collections, published in an eight-page advertising spread entitled Rendez-vous à Biarritz in the March 1981 edition.  The response was remarkable and while Lancôme and Jaeger’s launch attracted polite attention, Vogue’s mailbox (which then was letters in envelopes with postage stamps) was overwhelmingly filled with enquiries about the blinged-up Range-Rover.

Vogue's Range Rover In Vogue (HAC 414W) in Biarritz, 1981, all nuts on board or otherwise attached.

Rover had expected demand to be strong and the reaction to the Vogue spread justified their decision to prepare for a production run even before publication and the Range Rover In Vogue went on sale early in 1981, the limited-edition run all replicas of the photo shoot car except for the special aluminum wheels.  The three-spoke wheels (based on the design Ford had used on the 1979 (Fox) Mustang) had actually proved a problem in Biarritz, the factory supplying the wrong lug nuts which had a tendency to fall off, meaning the staff travelling with the car had to check prior to each shoot to ensure five were present on each wheel which would appear in the picture.  Not until later in the year would the wheels be ready so the In Vogue’s went to market with the standard stylized steel units, meaning the brochures had to be pulped and reprinted with new photographs.  Quite how many were made remains unclear.  The factory said 1000 would be built, all in right hand drive (RHD) but many left hand drive (LHD) examples seem to exist and it’s thought demand from the continent was such that another batch was built although this has never been confirmed.  The In Vogue’s exclusive features were:

Light blue metallic (the model-exclusive Vogue Blue) paint with twin broad coach-lines in two-tone grey
High-compression (9.35:1) V8 engine
Transfer box with taller (0.996:1) high ratio
Air conditioning
Polished-wood door cappings
Stowage box between front seats
Map pockets on back of front seats
Fully carpeted load area
Carpeted spare wheel cover and tool kit curtain
Custom picnic hamper mounted in rear load-space
Stainless steel tailgate capping
Black centre caps for the wheels

Condé Nast would later describe the In Vogue’s custom picnic hamper as the car’s piece de resistance.  Demand for the In Vogue far exceeded supply and production runs of various volumes followed before the Vogue in 1984 became the regular production top-of-the-range model for many years (although when sold in the US it was called the Country).  For both companies, the In Vogue (and the subsequent Vogues) turned out to be the perfect symbiosis.

Vogue, January 1925, cover art by Georges Lepape.

From the start, Vogue was of course about frocks, shoes and such but its influence extended over the years to fields as diverse as interior decorating and industrial design.  The work of Georges Lepape (1887-1971) has long been strangely neglected in the history of art deco but he was a fine practitioner whose reputation probably suffered because his compositions have always been regarded as derivative or imitative which seems unfair given there are many who are more highly regarded despite being hardly original.  His cover art for Vogue’s edition of 1 January 1925 juxtaposed one of French artist Sonia Delaunay’s (1885–1979) "simultaneous" pattern dresses and a Voisin roadster decorated with an art deco motif.

One collector in 2015 was so taken with Pepape’s image that when refurbishing his 1927 Voisin C14 Lumineuse (literally “light”, an allusion to the Voisin’s greenhouse-inspired design which allowed natural light to fill the interior), he commissioned Dutch artist Bernadette Ramaekers to hand-paint a geometric triangular pattern in sympathy with that on the Vogue cover in 1925.  Ms Ramaekers toook six months to complete the project and the car is now being offered at auction.

Voisin's extraordinary visions:  1934 C27 Aérosport (left), 1934-1935 Voisin C25 Aérodynes (centre) & 1931 C20 Mylord Demi Berline (right).

There are few designers as deserving of such a tribute as French aviation pioneer Gabriel Voisin (1880–1973) who made military aircraft during the First World War (1914-1918) and, under the name Avions Voisin, produced a remarkable range of automobiles between 1919-1939, encapsulating thus the whole inter-war period and much of the art deco era.  Because his designs were visually so captivating, much attention has always been devoted to his lines, curves and shapes but the underlying engineering was also interesting although some of his signature touches, like the (briefly in vogue) sleeve valve engine, proved a mirage.  Also a cul-de-sac was his straight-12 engine.  Slow-running straight-12 (there is even a straight-14 which displaces 25,340 litres (1,546,000 cubic inches) and produces 107,290 hp (80,080 kW)) engines are actually not uncommon at sea where they’re used in big container ships but on the road (apart from some slow-running engines in military vehicles), only Voisin and Packard ever attempted them, the former making two, the latter, one.  Voisin’s concept was simple enough; it was two straight-6s joined together, end-on-end, the same idea many had used to make things like V12s (2 x V6s) straight-8s (2 x straight-4s) and even V24s (2 x V12s) but the sheer length of a straight-12 in a car presented unique problems in packaging and the management of the torsional vibrations induced by the elongated crankshaft.

1934 Voisin C15 Saloit Roadster.

The length of the straight-12 meant an extraordinary amount of the vehicle’s length had to be devoted to housing just the engine and that resulted in a high number for what designers call the dash-to-axle ratio.  That was one of the many reasons the straight-12 never came into vogue and indeed was one of the factors which doomed the straight-8, a configuration which at least had some redeeming features.  Voisin must however have liked the appearance of the long hood (bonnet) because the striking C15 Saloit Roadster (which could have accommodated a straight-12) was powered by a straight-4, a sleeve valve Knight of 2500 cm³ (153 cubic inch).  The performance doubtlessly didn’t live up to the looks but so sensuous were those looks that many would forgive the lethargy.

Using one of his trademark outdoor settings, Norman Parkinson (1913-1990) photographed model Suzanne Kinnear (b 1935) adorning a Daimler SP250, wearing a Kashmoor coat and Otto Lucas beret with jewels by Cartier.  The image was published on the cover of Vogue's UK edition in November 1959.

The Daimler SP250 was first shown to the public at the 1959 New York Motor Show and there the problems began.  Aware the little sports car was quite a departure from the luxurious but rather staid line-up Daimler had for years offered, the company had chosen the pleasingly alliterative “Dart” as its name, hoping it would convey the sense of something agile and fast.  Unfortunately, Chrysler’s lawyers were faster still, objecting that they had already registered Dart as the name for a full-sized Dodge so Daimler needed a new name and quickly; the big Dodge would never be confused with the little Daimler but the lawyers insisted.

Imagination apparently exhausted, Daimler’s management reverted to the engineering project name and thus the car became the SP250 which was innocuous enough even for Chrysler's attorneys and it could have been worse.  Dodge had submitted their Dart proposal to Chrysler for approval and while the car found favor, the name did not and the marketing department was told to conduct research and come up with something the public would like.  From this the marketing types gleaned that “Dodge Zipp” would be popular and to be fair, dart and zip(p) do imply much the same thing but ultimately the original was preferred and Darts remained in Dodge’s lineup until 1976, for most of that time one of the corporation's best-selling and most profitable lines.  The name was revived between 2012-2016 for an unsuccessful and unlamented compact sedan.

Friday, February 16, 2024

Fuselage

Fuselage pronounced fyoo-suh-lahzh, fyoo-suh-lij, fyoo-zuh-lahzh or fyoo-suh-lahzh)

(1) In aeronautical design, the complete central structure of an airplane, to which are attached the wings (or rotors), tail and other stabilizing fins or surfaces (engines sometimes also directly attached or enclosed).  It is inside the fuselage where the crew, passengers, cargo and most internals systems are located.

(2) In design, a style which borrows from or alludes to the elements used in aircraft fuselages.

(3) By extension, the main body of an aerospace vehicle

1909 (In English): From the French fuselage, the construct being fusel(é) (spindle-shaped), from fuseler (to shape like a spindle), from the Old French fus or fuseau (spindle), from the Latin fusus (spindle) + -ageThe French suffix -age was from the Middle & Old French -age, from the Latin -āticum, (greatly) extended from words like rivage and voyage.  It was used usually to form nouns with the sense of (1) "action or result of Xing" or (more rarely), "action related to X" or (2) "state of being (a or an) X".  A less common use was the formation of collective nouns.  Historically, there were many applications (family relationships, locations et al) but use has long tended to be restricted to the sense of "action of Xing".  Many older terms now have little to no connection with their most common modern uses, something particularly notable of those descended from actual Latin words (fromage, voyage et al).  In English, the suffix -age was from the Middle English -age, from the Old French -age, from the Latin -āticum.  Cognates include the French -age, the Italian -aggio, the Portuguese -agem, the Spanish -aje & Romanian -aj.  It was used to form nouns (1) with the sense of collection or appurtenance, (2) indicating a process, action, or a result, (3) of a state or relationship, (4) indicating a place, (5) indicating a charge, toll, or fee, (6) indicating a rate & (7) of a unit of measure.  Fuselage is a noun & adjective; the noun plural is fuselages.

Many languages also borrowed fuselage but there were sometimes variations in spelling including in Catalan (fuselatge), Portuguese (fuselagem), Spanish (fuselaje), Russian (fjuzeljáž (фюзеля́ж)), Kazakh (füzeläj (фюзеляж)) and Ukrainian (fjuzeljáž (фюзеля́ж)).  It’s not clear when “fuselage” was first used in English, the earliest known reference dating from 1909 but it’s not improbable the word had earlier been in oral use.  The alternative was presumably “hull” (the body or frame of shop, boat or other such vessel).  Hull was from the Middle English hul, hulle & holle (seed covering, hull of a ship), from the Old English hulu (seed covering), from the Proto-Germanic hul- (and related to the Dutch hul (hood) and the German Hülle & Hülse (cover, veil)), and may have been from either the primitive Indo-European forms el- (to cover, hide) or kal- (hard).  Hull came into wide use in aircraft design when “flying boats” were developed.

Flying boats: Short S.25 Sunderland (1938-1946) (left) and Dornier Do X (1929-1932) (right). 

Most aeroplanes have fuselages; flying boats have hulls, a tribute to the nautical part of their hybrid origin.  Commercially, flying boats were widely used during the inter-war years because of their range and, needing only a suitable body of water (sea, lake, river), their ability to operate in regions without suitable aerodromes.  A vital military machine during World War II (1939-1945), the advances in aircraft design during that conflict, coupled with the proliferation of airstrip construction able to be re-purposed for civil use doomed them for all but some specialist uses.  Quickly they almost vanished from European and (most) North American skies and waterways, enduring in the Far East only until infrastructure there too was improved.

The fuselage can be optional: Dunne D.5 (1908) (left), Northrop YB-49 prototype (1947) (centre) and Northrop Grumman B-2 Spirit (1989) (right).

In the early days of aviation, before even an airplane had flown the English Channel, designers had been intrigued when their slide-rule calculations suggested the optimal shape of a flying machine was a "flying wing" with no conventional fuselage and certainly no tail-plane apparatus.  Tests of scale models in primitive wind tunnels proved the math was substantially correct and proof of concept tests using an unpowered glider proved inconclusive, it being clear only a powered flight would demonstrate if such a design could achieve stable flight.  When tested, the designer admitted an early, under-powered, version was "more a hopper than a flyer" but when fitted with more powerful engines, the "flying wings" proved remarkably stable.  However, more conventional designs proved more suitable for military use and that, increasingly was where the source of funding was to be found.  Despite that, the idea continued to fascinate designers and a flying wing was one of the extraordinary range of experimental aircraft under development in Nazi Germany during World War II, most of which never made any contribution to the Luftwaffe's war effort.  In the US, Northrop built both propeller and jet-powered prototypes in the 1940s and after early difficulties, a stable platform emerged although, like most designs, it both offered advantages and imposed restrictions but the whole project was cancelled; ever since some have argued this was due to political influence while others claim the flaws in the concept were so fundamental they couldn't be fixed.  The Northrop Grumman B-2 Spirit (in service with the US Air Force (USAF) until at least 2034) is a modified version of a flying wing in that its really a variation of a delta with an integrated fuselage.

Ascending the stairs: Lindsay Lohan entering a fuselage, Mykonos, Greece, August 2016.

In the early days of aviation during the twentieth century’s first decade, French engineers and inventors were the most innovative on the planet and this is reflected in the world-wide adoption of many French terms for some of the bits and pieces which continue to be used.  English, rarely inclined to create a new word if there was a manageable one in some other language which could be absorbed (“borrowed” still the term etymologists, strangely perhaps, prefer) and the French words which formed the basis of the early lexicon of aviation are a particular example of technological determinism in language.  Other orthodox terms in aviation include:

Aileron: A hinged flight-control surface usually attached to the trailing edge of each wing and used to change the roll (ie cause fuselage to begin rotation).  Although the word “flaps” is commonly used of ailerons, the flaps are usually positioned closer to the fuselage and are used to increase or reduce lift & drag.  The flap-like devices mounted on the trailing edges of the vertical stabilizers (somewhere in the tail-section) are properly called “elevators”.  Aileron was a diminutive of aile (wing) and before powered flight (flying machines) had been used in ornithology to refer to the extremities of a bird's wings used to control their flight.  There is an entry in a French-English dictionary dating from 1877 (with the lead meaning: “small wing”) and in the context of the language of aviation, the earliest known use in entry in French technical literature is from 1908.

Empennage: The tail assembly of an aircraft, including the horizontal and vertical stabilizers, elevators, and rudder. Empennage was from the French empenner (to feather an arrow).

Chassis: This was the original term used in English to describe the framework of an aircraft but soon was replaced by "frame, structure etc"), presumably because of the association with the heavy steel constructions used in cars and trucks, things far removed from the lightweight designs needed in the air.  Chassis was from the French chassis (frame, supporting structure), from châsse (reliquary; coffin), from the Latin capsa (case).

Concours d'Elegance: Not strictly an aviation term and most associated with affairs like those in Pebble Beach where rows of vintage Bentleys, Ferraris and such (the latter always in a much better state of finish than when they left the factory) are judged for their closeness to perfection.  Although not strictly a term from aviation, there are such events for old aircraft.  Concours d'Elegance was from the French concours d'élégance (competition of elegance).

Pilot: Pilot was from the Middle French pilot & pillot, from the Italian pilota & piloto, (pedotta, pedot & pedotto the older forms), the pil- element probably influenced by pileggiare (to sail, navigate), ultimately from the unattested Byzantine Greek *πηδώτης (pēdtēs) (helmsman), from the Ancient Greek πηδόν (pēdón) (blade of an oar, oar) (the the Ancient and Modern Greek πηδάλιον (pēdálion) (rudder).  Familiar from nautical use, pilot was a straight borrowing for the person fulfilling the same function in the air.  The construct of pilotage was pilot + -age.

Canard: A type of aircraft configuration where the tail-plane is ahead of the main lifting surfaces.  In aviation, a canard is either (1) a type of aircraft in which the primary horizontal control and stabilization surfaces are in front of the main wing or (2) a horizontal control and stabilization surface located in front of the main wing of an aircraft (a fore-plane).  In just about any form of engineering involving movement and fluid dynamics (air, plasma, water etc), a canard is a small, wing-like structure used usually as a stabilizing device.  Canard was from the French canard (duck, hoax) and in English as “a canard”, is still used in that sense to mean “a false or misleading report or story, especially if deliberately so”.

The Fuselage Chryslers, 1968-1973

1969 Imperial LeBaron, four-door hardtop.

The “fuselage” Chryslers were released late in 1968 for the 1969 model year and, as a class, remain the largest regular production cars ever made by the US industry.  In the catalogue between 1968-1973, by the end of their run the Imperial was built on a 127 inch (3226 mm) wheelbase, was 235 ½ (5981 mm) inches in length and almost 80 (2022 mm) inches in width.  Big cars from Detroit were not uncommon in the 1960s (Buick in 1959 even naming their top-of-the-range model the Electra 225, a tribute to its 225 inch (5715 mm) length) but even by those standards the fuselage cars not only were vast but the bulbous shape (source of the “fuselage” tag) made them appear more excessive still; it wasn’t only for the big Chryslers the derisive “land yacht” was coined but the line exemplified the idea.  In fairness, the trend generally was “longer, heavier & fatter”, even once compact (by US standards) and agile machines like Ford’s Mustang and Thunderbird bloating with each update although the manufacturers were aware there was considerable public demand for something smaller and by the late 1960s, those in the pipelines were well-advanced.  However, demand for the full-sized cars remained strong and Chrysler decided their lines should be more full-sized than ever, thus the fuselage design.  There was at the time a bit of an aeronautical influence about and that was nothing new, jet aircraft and space rockets during the previous two decades having contributed many of the motifs which appeared on US cars.  During the development cycle for the fuselage cars, Chrysler were well-acquainted with the appearance of the Boeing 747, sketches circulating for some three years before its first public appearance in September 1968, coincidently just days after the Chrysler’s debuted.  In its appearance, the bulging 747 was the same sort of departure from the earlier, slender 707 as the 1969 Chryslers were from their rectilinear predecessors.

1969 Chrysler 300 advertising.  In graphics & text, the "fuselage" motif was integral to the promotion; it was no mere nickname. 

In some ways the styling has aged surprisingly well because the basic lines are uncluttered and, particularly on the higher priced editions, there was some nice detailing but at the time, critics found the look peculiar and a deviance from the direction other manufacturers were travelling.  The sides were unusually deep and rounded (recalling, obviously, an airplane’s fuselage) with a beltline so high the glasshouse (the cabin area defined by the windows) was relatively shallow, something accentuated by the surrounding bulk.  The corporation’s full-sized platform (internally the “C-Body”), it was shared by the Plymouth, Dodge, Chrysler and Imperial lines, the latter a surprise to some because since 1955 when it had been established as a separate division, the Imperial had been built on a unique platform.  However, despite some encouraging results in the 1950s, Imperial never achieved the volume which would have justified another unique platform so the line was merged into mainstream development.

1969 Imperial LeBaron advertising.  The "messaging" in this advertisement remains obscure.

The debut season saw good sales for the fuselage cars (though still more than 10% down on the previous C-Body (1965-1968)) but demand dropped precipitously in the next three years although sales were in buoyant in 1973 when many manufacturers set records; it was the last good year for the “old” American economy and the swansong of the long post-war boom built on cheap, limitless energy and the uniquely advantageous position the country enjoyed after the war; something squandered by the mistakes of more than one administration.  It was certainly unfortunate timing for Chrysler that the first oil crisis should hit just weeks after they had replaced the fuselage cars with something mechanically similar but with clever styling tricks (even the engineers admitted it was “nips & tucks; smoke & mirrors”), something dimensionally similar appeared both smaller and more modern.  Underneath, as the fuselage line had been, was essentially a good product, Chrysler’s basic engineering always good and while the big machines would never behave like a Lotus Elan, on the road they were competent and in most aspects as good as or better than the competition.

The last of Harry S Truman's (1884–1972; US president 1945-1953) many cars was a 1972 Chrysler Newport, the entry-level model in Chrysler's Fuselage range (some Plymouth & Dodge models were cheaper still).  Purchased some six months before his death, the licence plate (5745) was a special request, a reference to 7 May, 1945 (VE Day (Victory in Europe).  Truman was in office on that day and the plate has since permanently been retired.

The first oil shock hit demand for the 1974 cars and the timing was bad for all points in the production and distribution chain.  Noting the favourable reviews, dealers had ordered large stocks to meet the expected demand but the Arab Oil Embargo meant sales of big cars collapsed and the Chryslers, with V8 engines between 318-440 cubic inches (5.2-7.2 litres) were as thirsty as any of their ilk and supplies of cars expected to be sold in days languished on dealer’s lots for months.  In response, Chrysler shut down two manufacturing plants while trying to increase production or imports of small, fuel-efficient vehicles.  Sales of the big cars in 1974 were barely half those of the previous year and the breakdown of those was a harbinger for the whole industry, the numbers disproportionately slanted towards the higher-priced lines, the entry-level models attracting interest mostly from fleet operators and law enforcement.  The days of the low-cost big sedans which appealed to those like Harry Truman who liked the virtues without the ostentation, were over.

1978 Chrysler New Yorker advertising.  Still obviously bulky, the 1974-1978 re-style toned down the fuselage look although the interiors in tufted leather or velor became increasingly baroque.  Publications like Road & Track (R&T) where the writers disapproved of anything so big (they thought everyone should drive a Lancia) sneered at the extravagant fit-out, dismissing it as "gingerbread" but it was a luxurious and isolating environment.  There were still many who liked that sort of thing, none of whom maintained subscriptions to R&T.

So the writing was on the wall and even by 1977 when the oil crisis faded from memory and it seemed buyers were ready again to buy big, Chrysler was left with its now 1974 range while press and public fawned over General Motors’ (GM) newly slimmed-down, taut looking, full-size cars, the style and dimensions of which were so obviously the future.  Tellingly, while radically reduced in weight and external measurements, on the inside, they were in most places as capacious as both their predecessors and the now antique Chryslers which were still just an update of the 1969 fuselage range.  With the coming of 1976, the corporation had accepted the inevitable and axed the Imperial brand, Chrysler's top-of-the-range New Yorker tarted-up with left-over Imperial trim to become the new flagship.  The end was close and in 1978 it came, that the last year of the big Chryslers released with such high expectations a decade before and when the line was retired, it took with it the once popular four-door hardtop body-style, other manufacturers having already retired their models.  Shockingly inefficient though they are, the few surviving land yachts have a small but devoted following who appreciate what remains a unique driving experience (one as enjoyable as a passenger) and it's unlikely anything like them will ever be built again.