Word: cohu
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...Cord v. Cohu (cont...
Avco hired Publicists Edward L. Bernays and Bruno & Blythe to combat the Cord propagandists, P. P. Willis & Co. of Chicago, Doremus & Co. of Manhattan. But their replies were less heated. President La Motte Turck Cohu repeated his familiar objections to Mr. Cord. Avco was cannily waiting, hoping that the Cord faction would talk itself into trouble...
Then two of the breaks awaited by Avco occurred in quick succession. E. F. Hutton & Co., Cord supporters, published a booklet in which President Cohu's name appeared above an Avco balance sheet showing $20,000,000 losses since 1929. Mr. Cohu, who has been president for only six months, started a $1,000,000 libel suit. Also, Avco got and published a letter from President William Green of the A. F. of L. Excerpts: "We are thoroughly convinced that Mr. Cord is hostile to union labor. ... If [he] secures control . . . it will be the purpose...
...domestic airmail contracts. However the growing pains were acute. When Avco was six months old the 1929 crash occurred. Immediately afterward the company altered its investment policy, put much of its ample cash into other than aviation stocks. There were three presidents in three years, President LaMotte Turck Cohu taking office last March just in time to greet Mr. Cord...
President Cohu, a youthful Princetonian (1917), was an investment broker, head of Air Investors Inc. which is a substantial Avco stockholder. He could not deny Mr. Cord's statement last week that Avco had lost money since its birth,* but he did say that the fight with Mr. Cord had been brewing for months because of Cord's efforts to "jam Stinson planes down the company's throats." Cord builds Stinsons and the Lycoming engines that pull them. Old guard Avco men said that Cord was a poor transport man, that his Century Lines lost money, that...