Word: k-f
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...Willow Run last week, Kaiser-Frazer Corp. laid off 5,000 workers and stopped production for six days for "inventory adjustment." While the shutdown gave K-F dealers, whose sales had been lagging, a chance to cut down the supply of cars' on hand, it also gave Wall Streeters a scare. K-F stock, which had tumbled from 15 5/8 to 3 3/8 in 21 months, dropped another s of a point to a 1949 closing...
...days later the stock bounced up again to 4 3/8. At week's end RFC let out some news which might explain the rise. K-F had been dickering for a $30 million . loan since May, and if "all requirements are met" the RFC might be disposed to grant it. Detroit buzzed with rumors that Kaiser would use such a loan to retool for his long-promised, light low-priced car to compete with Chevrolet Ford and Plymouth...
Kaiser-Frazer Corp. stockholders had one consolation: nothing had been kept from them. When K-F President Edgar F. Kaiser reported a $5.8 million loss for the first quarter, he had predicted further trouble. Last week, K-F reported a second-quarter loss of $2,300,000 (v. $3,900,000 net in the same 1948 period...
...trouble, said K-F, had been high-cost inventories, high overhead, price cuts, and a strike at Bendix Aviation Corp. which had stopped K-F production for two weeks. But K-F's real trouble was that the auto shortage was about over, and its share of the market had slipped from 5% in 1948'$ first half...
...K-F feared it would lose money the third quarter too, so it was pulling in its horns. Last week, besides scheduling a ten-day shutdown to let sales catch up with production, K-F sold two iron and steel plants at Phoenixville, Pa. Buyer: the Barium Steel Corp. Price: more than...