Word: girdlers
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Dates: during 1940-1949
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...Lone Wolf. The first to mobilize was Tom Girdler. His career of devil-may-care unpopularity had come to a climax in a 1940 Roosevelt campaign speech, when the President used his name as a synonym for enemy-of-the-people. Shortly thereafter Girdler put out feelers to Washington and decided to quit fighting C.I.O. That was now kid stuff; the big leaguers were fighting Hitler...
...long Girdler stays there depends upon how fast he can do the job at hand. "I was born and bred a steel man and want to die a steel man" says he at 64. He remains chairman of Republic Steel, whose directors last week voted to "sacrifice part of [his] time" to Vultee. He will devote his main efforts to the huge production problems involved in reorganizing and rationalizing the Vultee plant (a pioneer in developing aircraft assembly-line production) and that of Consolidated (which must share in the doubling of the bomber program announced by Bill Knudsen last fortnight...
...Girdler is not new to aircraft production in general, or to Vultee in particular. Long before he made his peace with Franklin Roosevelt and the C.I.O. he had made up his mind that light metals were the metals of the future, especially in steel's ancient bailiwick, transportation. Republic has for years pioneered in light steels...
...syndicate that salvaged the wrecks of another dreamer, Errett Lobban Cord, whose ill-assorted mass of properties included Vultee. Leader of that syndicate was Wall Street's Victor Emanuel, whose dreams have shown a much solider content than Eaton's or Cord's. Emanuel and Girdler together swung the Vultee-Consolidated deal...
Where Emanuel's control of this $1,000,000,000 backlog stops and Girdler's begins is not a matter for statistical analysis. Emanuel's Aviation Corp. owns 71% of Vultee common, which owns 34% of Consolidated. But Girdler (who holds only 2,000 of the 5,780,000 outstanding shares of Aviation Corp.) is executive head of both. Vultee Chairman Harry Woodhead becomes president of Consolidated and executive vice president of Vultee. Vultee President Richard Millar retains his present job, also becomes executive vice president of Consolidated. Both are Girdler appointees...