Word: frazers
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Dates: during 1950-1959
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...drawing board. After Korea, it worked hard to broaden its production base. In some cases, the Air Force deliberately paid more for planes just to get a new assembly line tooled up: e.g., the first two troop-carrying C-ngs to roll out of the new Kaiser-Frazer plant cost $1,000,000 apiece, as compared with the $314,000 price at the parent Fairchild plant. Said a production engineer last week, expansively waving aside Vandenberg's estimate of two years: "If they say 'go' today, a rate of 100,000 planes a year would be possible...
...past four years has gone into capital improvements. The area under irrigation has doubled, the soil planted to vegetables tripled, the number of tractors on farms increased sixfold, a merchant marine of 34 ships of 120,000 tons created from nothing. Factories like Philco refrigerator and Kaiser-Frazer have sprung...
...Kaiser-Frazer cut prices on its Henry J models this week, thanks chiefly to the fact that, with the metal supply easing, K-F no longer must rely on high-cost conversion steel. The cuts, ranging from $100 to $168, put the lowest priced Henry Js $176 to $266 below the lowest Ford, Chevrolet and Plymouth...
...last week, Eaton had the latest laugh. Manhattan's U.S. court of appeals ruled that Eaton's contract was, indeed, invalid. In its prospectus for the issue, said the court, Kaiser-Frazer stated its earnings in such a way as to represent that it had made a profit of about $4,000,000 in December 1947. "This representation was $3,100,000 short of the truth." This failure to make full disclosure not only "violated the Securities Act of 1933" but was "a breach of the contract," even though Otis & Co. had all the facts and had helped...
Eaton isn't out of the woods yet. He and the president of Otis & Co. are still under a $3,232,329 judgment awarded Kaiser-Frazer by a state court in Wilmington, Del. in a similar suit, and Otis & Co. is still under a court-appointed trustee. But the Manhattan decision made Eaton so cocky that he predicted he would soon be back in business...