Word: kaisers
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...House subcommittee okayed an Air Force program to spend $389 million on 20 big forging and extrusion presses. * Henry J. Kaiser, who has been plugging for the presses for 2½ years, got a contract to build a $17 million plant at Newark, Ohio to house two of them-a 25,000-tonner and a 35,000-tonner to be built by E. W. Bliss at a total cost of $14 million. Only two weeks ago, Alcoa got a letter of intent to operate a 35,000-tonner and a 50,000-tonner to be built by United Engineering & Foundry...
Purse-lipped, stiff-necked Dr. (of economics) Hjalmar Horace Greeley Schacht,* the seeming epitome of bankerly rectitude, has always known how to land right side up. Under Kaiser Wilhelm II he was an ardent nationalist; when the Weimar Republic was popular, he was an ardent Democrat and president of the Reichsbank; when Hitler's strength grew, he became an ardent Nazi: "I met Hitler and told...
...plant had a special significance for New Orleans, which does not have much heavy industry. Kaiser is the first to run an aluminum plant on Louisiana's natural gas. Now that he has shown the way, New Orleans hopes that other industries will follow. For his new plant, Kaiser got a well-deserved pat on the back from Wilson. He had raised the $115 million for aluminum expansion from private sources, got the plant going in only ten months, and doubled its planned capacity in the process...
Millions & Millions. Once in debt to the Government up to his eyeballs, Henry Kaiser has now paid off more than $244 million. Of all his enterprises, ranging from autos, cement, magnesium and steel to aluminum and houses, only his auto company, Kaiser-Frazer, is still in debt to the U.S. It owes $51 million. Kaiser has little trouble getting money from private sources. He has recently arranged for: i) a $17,-500,000 preferred-stock issue to finance the rest of his new aluminum plant, and 2) $65 million in new private financing to add a third blast furnace...
Private investors are willing to plunk such huge sums into the Kaiser empire because, with the exception of K-F, it is making money fast. Fontana in the past five months alone has boosted ingot output by 16%, made more money in October than in any other month on record. Its earnings ($2,500,000 in the last quarter) are running 30% ahead of last year, v. a decline for the rest of the steel industry. Kaiser's aluminum company is also netting more after taxes than last year, despite a 60% increase in its tax bill. Kaiser...