Word: k-f
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...signed up to help float 675,000 shares of Kaiser-Frazer stock at $11.50 a share; under the contract, the underwriters could bail out if anyone should try to block the stock issue in court. At the last minute Eaton bailed out, using as an excuse a suit against K-F to prevent the stock issue on grounds that Kaiser had mishandled K-F funds. It was filed by Philadelphia Lawyer James Masterson, a K-F stockholder who had at one time represented Otis & Co. in court. Kaiser charged that Masterson had filed the suit with a nudge from...
...Though K-F lost $13,260,193 last year making automobiles, the company now has an estimated $500 million in defense contracts for Fairchild C-119 "Flying Boxcars," Chase Aircraft (49% Kaiser-owned) C-123 assault transports, Wright aircraft engines and components for Lockheed's P2V antisubmarine patrol bomber...
...K-F's near-idle auto plant has been put to good use by doing work for a competitor. The company, now making only about 200 cars a day, gets an NPA steel allotment on the basis of its previous production of 1,400 a day. K-F is using its excess steel to turn out body components for General Motors' Fisher Body Division. Although K-F lost money in the first quarter, Boss Edgar Kaiser thinks that it will be in the black by year...
...assembly line at the rate of 900 a day (half Kaisers, half Henry J.s), and dealers have more orders than they can handle. With an estimated $500 million in defense orders on the books, including an Air Force contract for Fairchild Packet cargo planes, another for Wright aircraft engines, K-F seemed a likely candidate to join the other profitable Kaiser enterprises...
...loan should have been made at all. Said the Wall Street Journal: "Why should our government . . . maintain output of civilian goods at the very moment it is attempting a large-scale conversion of industrial production to warmaking equipment?" The answer seemed to be that RFC wanted to keep K-F going in the hope that it could get some arms contracts...