Word: kaisers
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Plant Payoff. Henry Kaiser, who still owes the Government $100 million for his Fontana steel plant, thought he saw a way to pay off the debt: he hiked his prices an average of $30 a ton (on top of the $9-plus increase which he and other steelmakers had just posted). Kenneth Norris, chairman of the Western States Council, .called it "a knockout blow ... by the man who talked so loud about what he was going to do to build Western industry...
...company was one of the underwriting syndicate, along with Cyrus Eaton's Otis & Co., which promised to float the third Kaiser-Frazer stock issue. When Eaton called off the deal (TIME, May 3), Allen stuck to his word, handed K-F a check for some $2,500,000, ready to take the loss. (K-F later returned the check...
Following' the lead of U.S. Rubber, eight other tire producers upped prices 4½% to 7½%. Kaiser-Frazer Corp. became the seventh automaker in six weeks to announce new price increases, ranging from...
...prices and tried to hold the line, gave up-and handed out a 9 to 15? an hour raise. Firestone Tire & Rubber settled for 11?, United Aircraft for 10 to 20?. The Aluminum Co. of America offered 9 to 13?. Chrysler had followed G.M.'s lead, and now Kaiser-Frazer came across with 14.4?; Briggs Manufacturing, Nash and Packard with 13?. All told, some 250,000 hourly workers got pay boosts last week...
...taken out of Western Germany). Most U.S. businessmen do not think they are worth buying. Much of the equipment is worn out. Though the German plants are cheap, U.S. buyers must pay the high transportation costs to the U.S. Three companies submitted bids for the aluminum plant and Kaiser got it for only $203,000. The cost of moving it was another $100,000. Before the plant is producing, Kaiser will have spent an estimated $1,000,000. But Kaiser, who would have to wait months to get foil machinery in the U.S., thinks the German plant will be cheaper...