Word: kaiser
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Dates: during 1950-1959
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Almost as ingenious was an idea from Industrialist Henry Kaiser. At Cordoba, 400 miles northwest of Buenos Aires, he looked over the state-owned plant that produces cars, tractors, motorcycles, jet planes, light planes, gliders, parachutes, trucks and plastic boats. Kaiser's offer was to put $25 million into an assembly line for the state plant and to supply the know-how for building Kaiser and Willys cars. Until the factory could supply the market, Kaiser proposed to export his U.S.-made cars to Argentina. Perón signed an "agreement in principle" for the deal...
...some restricted areas of the econo my, workers have actually had to take pay cuts. Most notable were the cuts by Kaiser-Willys and Studebaker (TIME. April 26; Aug. 23), which may soon be followed by downward adjustments in fringe benefits by American Motors. In eastern Pennsylvania's Panther Valley last week, some coal mines closed by Lehigh Navigation Coal earlier this year were getting ready to start production under new operators. The action was made possible by a work-harder, produce-more plan signed by the union...
...gallon hats and billion-barrel talk. Last week a band of ten Latin American and U.S. businessmen flew into Havana to promote the development of the country's oil resources. Among the officers of the newly chartered Cuban-Colombian Petroleum Co.: Board Chairman Joseph W. Frazer. once of Kaiser-Frazer Corp., who now heads a uranium company; Director John A. Roosevelt, youngest of F.D.R'.s four sons, whose business ventures have ranged from department stores to home permanent waves; President Octavio Reyes Espin-dola, onetime Mexican Ambassador to Cuba and a close associate of Cuban President Fulgencio Batista...
...boss of Cleveland's Otis & Co. and the Chesapeake & Ohio Railway, was helped up, then knocked down, by the U.S. Government. Otis was cleared by the Securities & Exchange Commission of six-year-old charges that it welshed on a $10 million deal to help float stock for Kaiser-Frazer Corp. But Internal Revenue agents handed Eaton a $1,570,000 bill for back income taxes (1943) on a $1,909,000 profit he made by transferring stock between two Canadian iron-ore companies...
...KAISER-WILLYS is on the auction block, may be broken up and sold piecemeal. President Edgar Kaiser offered it to Chrysler Corp., but was turned down. Chrysler has shown interest in the money-making jeep business and Packard in the Maywood (Calif.) assembly plant. But nobody seems to want Kaiser-Willys as a package. The sale is being forced by continuous losses and the fact that Henry J., now 72, needs son Edgar on the West Coast to help run the rest of the Kaiser empire...