Word: kaisers
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...supply, Detrola, in August 1946, bought the Newport Rolling Mill at Newport, Ky. But Detrola's President C. Russell Feldman soon found that he still had a problem : he had no pig iron to make his steel. So, he told the committee, he made a deal with Kaiser-Frazer Corp. to trade finished steel for K-F's pig iron. (He also made another deal, the committee found, with Cincinnati's David J. Joseph Sr., one of the big U.S. scrap dealers. For his scrap, Joseph got 8,254 tons of steel, and a tidy gross profit...
...every room. But the 202 paintings they were guarding (estimated value: $80,000,000) were not loot, though they too had been brought back by conquerors (TIME, Feb. 11, 1946). All but two-a Daumier and a Manet-had once hung on the walls of Berlin's Kaiser Friedrich Museum...
...cutback, said General Manager Edgar F. Kaiser, represented "an economy drive in the face of mounting costs that have forced several auto manufacturers recently to raise prices." It was more than that. The company's failure to get new financing (TIME, Feb. 23), with which it hoped to boost output to 1,500 cars a day, had left it in a tight spot...
Others gave another reason for the cut back: Kaisers and Frazers were not selling too well. Edgar Kaiser said "not so" : the cars were going to dealers as fast as produced...
...sounded as cocky as ever. "We earned in excess of $22 million in the last nine months of 1947 on a one-shift operation," said Edgar Kaiser, "[and] we should do as well this year." But Wall Streeters, who had shown their hopes and fears about K-F in the ups & downs of the stock, were worried again. Wall Street thought that Cyrus Eaton of Otis & Co., an old K-F friend turned enemy (TIME, Feb. 23), was dumping 45,000 shares of K-F stock he held. It helped drive down the price to 8 7/8 at week...