Word: crosleys
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Growing Pains. Victor Emanuel, shrewd, farsighted chairman of the $36 million Aviation Corp. that owns 29.6% of Consolidated Vultee Aircraft Corp., continued his flight towards diversification. Having purchased Crosley Corp. (TIME, July 2) in June (radios, household appliances), Emanuel last week announced that Aviation Corp. will plunk out over $4,100,000 to buy control of New Idea, Inc., manufacturers of farm machinery and implements...
...time last week 80,000 workers were on strike, including 5,000 at the Crosley Corp. in Cincinnati, 7,500 at the Southeastern Shipbuilding Corp. in Savannah. There were 40 work stoppages throughout the nation; new ones threatened daily as the old ones ended. Even the oldtime prewar gags to attract picket-line attention reappeared - in Hollywood, of course...
...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...
Evidently Mr. Emanuel, whose route to success has been mergers, and Mr. Crosley, who has made money by building up a business from scratch, are each planning more of the same...