Word: frazer
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About this time, Graham-Paige was casting about for a new chairman, and Joe Frazer made his $1-a-year salary deal, merged Warren City with Graham-Paige...
...this, Joe Frazer and associates got 150,000 shares of Graham stock. Market value at the time: $543.750 or $1,087.50 for every $1 share of Warren stock...
When plump, suave Joseph Washington Frazer became board chairman of Graham-Paige Motors Corp. eight months ago, he agreed to work for $1-a-year as part of the deal. This was a good deal for Graham. It was a far better deal for Joe Frazer. Last week, he told why: it enabled him to run an investment of $500 into over $1,000,000 in a little more than a year...
...Frazer started his dizzy fiscal feat with the Warren City Tank & Boiler Co., Warren, Ohio (pop. 43,000). The company's $7,000.000 plant was built by the Navy but, under private management, was falling down on the job of making landing barges, etc. So Joe Frazer, fresh from doing a bang-up production job at Willys-Overland Motors Inc., took over...
...Frazer kept a controlling interest of 252 shares for himself and family, sold the rest to old business associates, including L. Boyd Hatch of Atlas Corp...