Word: kaiser
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Dates: during 1940-1949
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After lending Henry Kaiser $34.4 million only a month ago, the RFC last week opened its cash drawer and plunked out another $10 million to its great & good friend. The earlier loan was to help Kaiser-Frazer bring out a low-priced car by next spring to compete with Ford, Chevrolet and Plymouth. The second loan was to permit K-F to finance its dealers' purchases of cars from the factory, because K-F dealers had trouble getting loans from private banks. All told, RFC has loaned K-F almost as much as the company raised in stock sales...
...which has always proved a friend in need for Henry Kaiser, came through last week with a $34.4 million loan for Kaiser-Frazer. RFC said some of the cash would be used to tool up for a complete line of cars. (K-F now makes only four-door sedans.) Detroit also heard that about $5,000,000 would be used to turn out a car for under $1500 to challenge Ford, Plymouth and Chevrolet. Henry Kaiser, who has paid back $67.6 million of his federal loans, now owes the government $149.8 million...
...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...
...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...
...politician wanted a verse of Deutschland über Alles included in the ceremonies. And there was the riverboat contretemps. Bonn, desperately short of housing, commissioned the Cologne-Düsseldorf Steamship Co. to tie up a big river liner near the city. The line told Bonn that the S.S. Kaiser Wilhelm would be there. Himmel! croaked the Bonn officials, the name might cause criticism. Replied the ship line: "S.S. Bismarck coming." That was worse. Bonn wired: "Send Kaiser Wilhelm, but hide name with sign reading 'Hotel Ship...