Word: avco
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There, this week, amid the old leather and the bright brass, the biggest deal in aviation history was being completed; out of that roc's-egg deal would hatch the biggest aviation company in the world. Consolidated Vultee Aircraft Corp., controlled by Aviation Corp. (AVCO), was being merged with Lockheed Aircraft Corp...
...deal brought AVCO into the new and prospectively dazzling electronic industry-whose prospects may help keep AVCO riding high (its stock sells for $9 although its earnings are only 54? a share...
This sounded like an embryo General Motors Corp. of the air-with some unfunctional trimmings. Last December, adding more General Motors atmosphere, smart Mr. Emanuel hired Irving Brown Babcock away from General Motors truck division and made him AVCO president. But last week's deal made it apparent that if Emanuel was pursuing the General Motors idea he did not intend to pursue it entirely...
...buying a controlling interest in Crosley Corp., he added to AVCO's line...
About all AVCO did not buy from Powel Crosley Jr. was his Cincinnati Reds baseball team (National League), and rights to the bantam, two-cylinder, $350 car on which Crosley took a flier before the war. He has hopes of redesigning it as a more successful four-cylinder car, and has a quota for auto production in the reconversion period...