Word: frazers
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Dates: during 1950-1959
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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...
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...
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...