Word: k-f
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...once caught the Securities & Exchange Commission flat-footed in its long battle to revoke the underwriting license of his investment house, Otis & Co. SEC charged that Eaton had instigated a suit against Kaiser-Frazer Corp. and then used the suit to get out of underwriting a stock issue for K-F when it seemed that Otis might lose millions on the deal. Eaton neatly handled that hot serve. He sued SEC in the U.S. District Court. It ruled that there was insufficient evidence against Otis. SEC took the case to the U.S. Court of Appeals...
...Frazer bore the title of president. Edgar and father Henry differed with Joe Frazer on many company questions, the most recent being whether K-F should declare a dividend or cut prices. The Kaisers, who wanted to cut prices...
...move placed Edgar in official control of the corporation at a time when a strong hand was needed to combat dropping sales and rising competition. A smart, hard-working man who spends twelve hours a day in the office, he was probably the only man in K-F who might be able to pull the company through its troubles...
...K-F also brought out a new model, the Traveler, a combination sedan and station wagon with a list price of $2,088. The rear of the Traveler opens up (see cut) and the back seat folds down on the floor, making a lugeage compartment almost as large as a station wagon's. K-F figured the car would be fine for small businessmen and farmers, who could use it as a truck by day, a family car by night...
Edgar also took steps to stop the $30-3-ton premium on steel which K-F has been paying. He made a deal to finance the building of a new open-hearth furnace for Republic Steel, buy all the output for five years at market prices. Under the agreement, Republic would continue to sublet the blast furnace at Cleveland which K-F had leased from the Government (TIME, Sept. 6), thus ending a squabble between the two companies and the War Assets Administration...