Word: investors
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Dates: during 1930-1939
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...flying business a successful forced landing is one you can walk away from. In 1932 big Detroit Aircraft Corp. made a landing that was distinctly not successful. No investor aboard walked away with his pocketbook intact. One of Detroit Aircraft's subsidiaries was Lockheed Aircraft, absorbed in 1929. Although its sleek Vegas and Orions were the fastest commercial jobs in the air, Lockheed had to go into receivership. Grass grew around its two-acre plant at Burbank, Calif., and the factory had only one employe-a watchman who had started working for Brothers Alan and Malcolm Loughead (later changed...
...underwriting half of J. P. Morgan & Co.) and Kuhn, Loeb & Co. have held themselves coolly aloof from competition for security issues. Their position is that terms reached in direct negotiations with a single underwriter, thoroughly familiar with the financing company, are more likely to be best for borrower and investor than those that come out of a fierce competition among a group of bidding underwriters. Competitive bidding, they hold, "tends to overpricing the issue . . . and to subsequent dissatisfaction and losi of credit and good will of the borrower...
...just sold an issue at "pretty good terms," thus inviting White House reporters to chalk one up for his contention that operating companies with good capital structures (a pat for Washington Water Power) whose "managers" indulge in no soapboxing (a pat for Groesbeck) can count on all the "investor confidence" they need...
...methods of auditing and analyzing a corporation's balance sheet are their own, the developments of over 400 years of practice. The U. S. public first realized that these methods were not always perfect when the McKesson & Robbins scandal broke last December. How was it possible, the average investor asked, for $18,000,000 in fictitious inventories to deceive seasoned accountants...
...enjoined by SEC, Lexington Foundation Inc., consented to a permanent injunction without admitting guilt.* Lexington, whose contracts total about $16,000,000, may continue in busi ness so long as it is careful to issue prospectuses which make clear such facts as that from the first $100 which an investor pays, some $70 is deducted for a service charge...