Word: frazer
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...Joseph Washington Frazer. who formed Kaiser-Frazer Corp. (now Kaiser Motors Corp.) with Henry J. Kaiser in 1945, then stepped out of company operations when he split with Kaiser in 1949, resigned as vice chairman and director of the company. Said he: "I tried to give advice and counsel, but Henry and I still didn't agree, so I decided to get off the board." Frazer will hold his job as chairman of Graham-Paige Corp., an investment company, and will be president and chairman of Standard Uranium Corp., a new company in which he will be in business...
Despite all this, competition in 1954 will be fierce. Last year saw one big auto merger (Kaiser-Frazer and Willys), and heard rumors of another (Hudson and Nash); 1954 may bring more of the same as independents battle to keep their share of the market. Meanwhile, General Motors' Harlow Curtice plans to spend $300 million in expanding production...
...budget, obviously wanted to drop an operation criticized as wasteful. Henry Kaiser and Edgar had done their best, before the hearings broke up. to acquit K-F of this charge. In a 22-page prepared statement, and an 88-page memorandum passed out to the press, they detailed Kaiser-Frazer's tribulations...
When New Hampshire's sharp-tongued Senator Styles Bridges charged last November that the Air Force was paying Kaiser-Frazer $1.2 million apiece for the same C-119 Flying Boxcar that Fairchild Engine and Airplane Corp. made for $260,000, K-F's President Edgar Kaiser cried foul. He took newspaper ads in ten cities to answer the charges of K-F's inefficiency (TIME, Nov. 24) and invited a congressional investigation. Last week...
...before the Senate's Preparedness subcommittee came Truman's ex-Under Secretary of Air John McCone, a Los Angeles Republican, ex-steel-man and onetime shipbuilding associate of Henry Kaiser. McCone recited the crowded events of a busy day in December 1950. In the morning, Kaiser-Frazer got a $25 million RFC loan; at noon, Henry and Edgar Kaiser met McCone at lunch to ask him about defense work; in the afternoon, Fairchild Engine and Airplane Corp. was notified by telephone that Henry and Edgar would come out to Hagerstown, Md. next morning to pick up copies...