Word: frazer
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...urgent call from Washington brought Speaker Joe Martin flying down from Massachusetts in a hurry. Senator Styles Bridges, conducting the opening hearings of his investigation into Kaiser-Frazer's C-119 contract (see BUSINESS), left his gavel with Vermonter Ralph Flanders and rushed off to the White House. President Eisenhower received Martin, Bridges and seven other Republican House and Senate leaders in the Cabinet Room. He had called them together, he explained, to dis cuss a rider which the Senate Appropriations Committee had unexpectedly at tached to the $1.1 billion appropriation for the Departments of State, Justice and Commerce...
Shrewd old Henry J. Kaiser and his son Edgar never put much of their own fortune into Kaiser Frazer Corp., their automobile manufacturing company which Edgar runs. Kaiser-Frazer lost some $52 million during its seven years of existence, and is $48.4 million in hock to the RFC. Old Henry put most of the family's millions into the highly profitable Kaiser Steel, Kaiser Aluminum & Chemical and Permanente Cement companies, controlled by his personal holding company, the Henry J. Kaiser...
...durable as the phoenix. In the '20s he built a Midwest empire of steel, rubber and iron ore, only to lose control of it during the Depression. Slowly he built another, only to see it threatened three years ago, when his Otis & Co. walked out of a Kaiser-Frazer stockselling agreement, and his ex-friend Henry Kaiser won $3,000,000 in judgments (TIME, July 16, 1951). Otis filed in bankruptcy, and Kaiser began hunting its assets like a sheriff waving the mortgage. But four months ago the U.S. Supreme Court let stand an appeals-court ruling that...
...parade, Buick tricked up is convertible with a new body, the Skylark; Cadillac brought out its El Dorado, Packard its Caribbean, and Oldsmobile its Fiesta. Kaiser-Frazer plans to bring out a fiber-glass plastic roadster this spring. Sports-car fanatics regard these cars as still too big. But even the fanatics were impressed when Chevrolet showed off its new fiber-glass plastic Corvette a fortnight ago. The Corvette, still to be put into production, seemed to have everything the best European sports cars have -except the ultra-high price...
...Kaiser-Frazer Case, in which Cyrus Eaton's Otis & Co. backed out of a stock-floating deal with K-F. K-F lost a $3,123,743 suit against Otis because it misrepresented its earnings in its registration statement of the stock issue. The SEC showed bias against Otis and in favor of K-F, said the committee, and still has a fraud charge pending against Otis. "But, at the same time," said the committee, "[it] has not moved against Kaiser-Frazer . . . although the charges and countercharges arose out of the same transaction." The Heller subcommittee called...