Word: convairs
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Dates: during 1946-1946
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About a year before Convair laid him off, Silverman and eight other Convair workers pooled $10,000 (half was Silverman's), ran it up to $100,000 by dealing in real estate through their Postwar Investment Co. When Jack Hession was laid off, he went to work to figure out a bookkeeping system for small businessmen. They needed it badly because 1) most of them didn't know how to keep books and 2) they couldn't afford a part-time bookkeeper to do the job. Why not, thought Hession, a mail order service which would charge...
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...
This liking took the form, in 1943, of putting Allen on AVCO's board and, in 1944, Convair's board at $6,000 a year for each. No one seems to know exactly how V.E. benefits from such friendly gestures. In fact, V.E.'s friends at court do not seem to have been able to keep him from being handled, occasionally, as roughly as the N.A.M. Example: last spring CAB forced him to reduce AVCO's 20% interest in American Airlines to 4% under its rule that no company can operate airlines and also build planes...
...year. He has often laughed at what a corporation has bought when it has employed him as a director. Said he recently: "I wouldn't have the slightest idea of where to go to buy an airplane. . . . Hell, I don't even know where [Convair's office] is around here...
...planes being built for the Navy have regular airline seats and a few added frills would make a plane for the airline trade. This put Lockheed a few lengths ahead of Convair, which had built only the bomber version of its six-engine XB-36 for the Army Air Forces. Boeing, with 49 commercial orders for its Stratocruiser, was still in the lead...