Word: k-f
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...stockselling agreement, and his ex-friend Henry Kaiser won $3,000,000 in judgments (TIME, July 16, 1951). Otis filed in bankruptcy, and Kaiser began hunting its assets like a sheriff waving the mortgage. But four months ago the U.S. Supreme Court let stand an appeals-court ruling that K-F's prospectus was fraudulent, thus Otis & Co. would have violated the law had it sold the stock. The judgments were vacated...
...Kaiser-Frazer Case, in which Cyrus Eaton's Otis & Co. backed out of a stock-floating deal with K-F. K-F lost a $3,123,743 suit against Otis because it misrepresented its earnings in its registration statement of the stock issue. The SEC showed bias against Otis and in favor of K-F, said the committee, and still has a fraud charge pending against Otis. "But, at the same time," said the committee, "[it] has not moved against Kaiser-Frazer . . . although the charges and countercharges arose out of the same transaction." The Heller subcommittee called...
Since then, K-F's production record has been something less than impressive. To date, it has delivered only eleven C-119s, and all of them have been assembled by K-F from parts supplied by Fairchild. Not until K-F has delivered another 30 planes will it be making C-119s entirely from its own parts. When the arms stretch-out was ordered last year 41 planes were lopped off K-F's contract and switched to Fairchild's order books In short, it looked last week as if Fairchild could have handled the entire...
When the Bridges charges hit the papers last week, K-F's President Edgar Kaiser placed ads in ten cities saying that Bridges had "found it impossible to keep any of several appointments" made to discuss K-F's side of the case. Kaiser denied the "inference . . . that the Willow Run operation is inefficient," and demanded a chance to prove it in a congressional investigation...
...clear that the quintuple fumbles on the C-119 had kept K-F afloat. Last week Kaiser reported that K-F was in the black for the first time in four years, with a third-quarter net of $344,064. All the profit was due to defense work, chiefly the C-119 contract; K-F's auto operations lost $175,094 in the quarter. In the first nine months of 1952, said Kaiser, the company lost $8,700,000 on $98 million in auto sales, whereas on $17 million more in defense work it netted...