Word: bembergs
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
There were few finer catches in the Government's Alien Property net than North American Rayon and American Bemberg Corps. Between them, the onetime partly German-controlled companies made about 8% of all U.S.-made rayon yarn. But North American and Bemberg also proved to be a spiny, troublesome haul. The Dutch Algemeene Kunstziide Unie, N.V. (AKU) complained that the companies really belonged to it. Later the board of directors, representing the minority stockholders, began to complain (TIME, March 8). They wanted the Office of Alien Property to give up its control of the companies...
Last week the directors got their wish, and fast-growing Beaunit Mills, Inc. got a bargain. Highest of four bidders, Beaunit paid OAP $17,111,126 for the Government's controlling interests (some 52% in North American and 45% in Bemberg). Beaunit would probably have had to pay more than three times as much to duplicate the plants at Elizabethton, Tenn...
Evidence that few companies would be able to resist the general trend came from the Government-controlled North American Rayon and American Bemberg Corps. After arguing for months that the companies' prices .were already too high, the Office of Alien Property was finally won over by minority stockholders, agreed to let management charge 10% more...
Bazelon got the FBI to investigate. Its agents marked outgoing rayon by a secret process, and traced it through the grey market. The FBI estimated that 10-15% of North American and Bemberg's output was being resold at prices up to $4 a pound, four times the factory price...
There was more trouble when Du Pont and other competitors raised their rayon prices in December. Bazelon vetoed any price hike for North American and American Bemberg. He ordered them to continue selling at 10% below the general market price. The irate directors resigned in a body...