Word: avco
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Under the proposed deal, Lockheed would issue new stock, exchange it for that held by Convair stockholders at a ratio not yet determined, but likely to be about seven shares of Convair for six of Lockheed. On its part, AVCO is expected to trade its Convair stock (26%) for Convair's non-aviation interests, including ACF-Brill Motors Co. and its subsidiary, Hall-Scott Motors, and Consolidated's general manufacturing plant at Nashville. In short, Convair's stockholders would get a piece of Lockheed, and AVCO would get out of the planemaking business entirely. It had plenty...
Deals No. 2 & 3. AVCO was planning to take over completely three companies which it already controls: Crosley Corp. (refrigerators, radios, television and broadcasting stations), New Idea, Inc. (farm machinery) and American Central Manufacturing Corp. (jeep bodies, kitchen sinks & cabinets...
...third deal, AVCO was planning to buy a large broadcasting station in the Midwest, add it to the present stations it owns, Cincinnati's WLW and New York's WINS. (This week FCC will be asked to approve the deal...
...fast-dealing week for AVCO and a turning point in its short (17 years), fantastic, often odorous history. Germinated by the wild enthusiasm for anything with wings that followed Lindbergh's transatlantic flight, AVCO sprouted from gilt-edged seed (Lehman Brothers; Brown Bros., Harriman and Co., etc.) in March 1929, as a holding company for all branches of aviation. For a time it flew high, controlling 81 corporations. But soon it crashed into such a welter of squabbles, proxy fights and plain bad management that Wall Street quipped: "AVCO was begotten in sin and carried on in seduction...
...personal empire. In addition to running AVCO, he is a director in six other companies, has a chunk of stock in mammoth Standard Gas & Electric Co., of which he was once board chairman, and is a special partner in a brokerage house, Emanuel. Deetjen...