Word: cohu
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What people actually saw was a statement about aluminum. Said tiny, independent Northrop Aircraft Inc.'s General Manager Lamotte T. Cohu (in Los Angeles): "There simply isn't enough aluminum available. . . . [It is] bound to affect other aircraft concerns." Mr. Cohu was explaining why he had just cut his factory working day from 20 to 16 hours (in two shifts). His explanation shortly stirred up a rumpus...
...that the first westbound ship would be christened The Southerner by Miss Anne Laxton of Knoxville, "a descendant of the late General Stonewall Jackson." In addition, Cinemactress Carole Lombard was to be on hand as a passenger. But Miss Lombard took a TWA plane instead, as did La Motte Cohu, onetime president of American Airways. Gary Cooper also failed to appear. Among those who did appear were Wallace Beery, Mr. & Mrs. Elliott Roosevelt and Texas Publisher Amon G. Carter...
...contracts for some $38,000,000 worth of U. S. war-boats. Fact: Cord's bids were doubtless lowest but-Probable fact: Cord more than offset any operating losses by the resultant boom in New York Shipbuilding's stock. This operation is what prompted La Motte Turck Cohu, whom Cord ousted as president of Aviation Corp., to growl: "The air transport business will be torn away from the pioneer operators . . . and put into the hands of speculators." President Richard W. Robbins of TWA growled: "Postmaster General Farley has extended an open invitation for all the crapshooters...
Major Lester Draper ("Bing") Seymour is the man E. L. Cord wanted in place of La Motte Cohu last spring. At that time Cord was not strong enough to have Seymour elected. But he did succeed in having President Cohu's undated resignation placed in care of Avco Board Chairman William Averell Harriman, just in case. For several weeks matters went smoothly, and one day - the story goes - when Cord, Cohu & Harriman were riding in a taxicab, Cord asked Banker Harriman for the resignation, tore it up. When hostilities reopened, he bitterly regretted his impulse...
Next day Cord's most potent proxy-committeeman, white-haired Speculator Frank Arthur Vanderlip ("The Grey Ghost of Wall Street"), called at the office of young Banker William Averell Harriman, who lately left Avco's chair (TIME, Oct. 31). Presently they summoned Avco's new Chairman Robert Lehman, President Cohu, and Cord's hard-bitten Vice President Lucius Manning. From noon until nearly midnight they argued, bartered. Then, on terms which will doubtless remain secret, they emerged with a truce: the Avco board shall be reduced from 35 to 15. Five will be chosen by the present regime (probably Harriman...