Word: kaiser
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Dates: during 1950-1959
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...Century of the Church pulled down a hornet's nest. It brought an especially strong buzzing from Swiss Theologian Karl Barth, who disagreed on theological grounds with Dibelius' view that the church must fill the void left by the passing of the Kaiser's "Christian state." Snapped Barth: "I have nothing against your argument, but don't call it theology." Dibelius looked on Theologian Earth's criticism as a front-line infantry commander might regard a staff officer's observations on tactics. Said he: "I think dogmatics are a mischief. A systematic theologian...
Shrewd old Henry J. Kaiser and his son Edgar never put much of their own fortune into Kaiser Frazer Corp., their automobile manufacturing company which Edgar runs. Kaiser-Frazer lost some $52 million during its seven years of existence, and is $48.4 million in hock to the RFC. Old Henry put most of the family's millions into the highly profitable Kaiser Steel, Kaiser Aluminum & Chemical and Permanente Cement companies, controlled by his personal holding company, the Henry J. Kaiser...
...with RFC insistently pressing for payment, Old Henry Kaiser had to decide whether to let K-F go under or take the risk of propping it up with more of his own money...
Last week Kaiser took the risk. His personal holding company anted up $37.6 million in cash to enable a K-F subsidiary, Kaiser Manufacturing Co., to buy all the plants and equipment of Willys-Overland Motors for $62 million. If approved by Willys stockholders, as seems assured, the deal will be the biggest automobile merger since Chrysler bought Dodge for $170 million in 1928. In terms of assets, it will make the combine the fourth biggest U.S. motormaker...
...selling at $5.25 only three years ago and the deal gives it a value of $17, Canaday and his co-owners (mainly his family) were more than willing to take a capital gain of $17.4 million on the deal. He is selling his plants, but not his company. Kaiser Manufacturing, which is changing its own name to Willys Motors, will operate the plants, while the original Willys-Overland Motors, having transformed its property into cash, will continue as an independent investment company. As with any other investment company, stockholders who want to redeem their stock will ultimately be able...