Word: frazers
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Dates: during 1950-1959
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...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...
...Kaiser-Frazer, which has had its troubles selling autos, faced trouble of a different sort. New Hampshire's Senator Styles Bridges charged last week that K-F's biggest defense contract, which has kept the company going for the past few months, is costing taxpayers at least $150 million too much. K-F, said Bridges is building 159 Fairchild C-119 cargo planes for the Air Force at a cost of $1,200,000 apiece, whereas the same planes made by Fairchild Engine & Airplane Corp cost only $260,000. The Senator, who will head either the Armed Services...
...Kaiser-Frazer, which is jacking up horsepower in its Kaiser line, plans to make 1,000 sport cars with plastic bodies, made by California's Glasspar Co. (TIME, Feb. 18). K-F's new model will weigh about 2,000 Ibs., cost about $2,000, v. $1,450 for the 2,300 lb. Henry...
...Reconstruction Finance Corp., which has grubstaked Kaiser-Frazer Corp. to some $50 million, last week decided to ride along on the mule as well. To K-F's board of directors, the RFC appointed their own representative,* 26-year-old Detroit Lawyer Alan E. Schwartz. A Harvard Law School graduate (1950) who had caught RFChairman Harry McDonald's eye when pleading cases before government bureaus, Schwartz will attend all of K-F's board meetings, keep tabs on the company's finances (K-F's losses in the past seven years: $53 million). Explained...