Word: kaisers
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Motormaker Henry Kaiser and Moneyman Cyrus S. Eaton of Cleveland's Otis & Co. were a smooth-working financial team. The two friends had floated two issues of Kaiser-Frazer stock, and when K-F needed steel, Eaton had set up a steel company to supply some of it. When K-F decided to float a third stock issue to raise capital for expansion (TIME, Feb. 16), it was Otis & Co. which headed the underwriting syndicate. Last week, Friend Cyrus performed another service for Friend Henry. He gave him a dazzling lesson in high finance that broke...
Scared. It was a mixed week for Henry Kaiser and Joe Frazer. They announced that K-F had decided not to go through with its proposed issue of 1.5 million more shares of stock (TIME, Jan. 19). K-F was scared off by the poor market for new issues. Two days later, Henry & Joe were honored by initiation into Manhattan's Circus Saints & Sinners Club. Sinner Joe chased Saint Henry around with a fork until he agreed to buy a Frazer...
Died. Thomas Theodor Heine,*80, cofounder, cartoonist and guiding genius of Germany's late great humor magazine Simplicissimus; in Stockholm. Sharp-penned Heine was jailed for making fun of the Kaiser, exiled in 1933 for making fun of Hitler. In his old age he ruefully remarked that "ridicule does not kill, it popularizes...
...Henry J. Kaiser last week needed more money. And he expected to get it from the public, in which he has boundless confidence. Twice before, that confidence has been vindicated. The public has invested $53.5 million in Kaiser-Trazer when Kaiser had little to offer but hope, and the magic of his name...
...great peacetime battle of production, Henry Kaiser got back some of the luster of his wartime fame. His Willow Run plant turned out 145,000 cars and he was able to brag in full-page ads that he was now "the world's fourth largest producer of automobiles." It was true in the sense that only General Motors, Ford and Chrysler topped Kaiser-Frazer. Actually, production of seven of the Big Three's individual divisions topped K-F's figure...