Word: kaisers
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...British ground armies as a whole have come a long way since Dunkirk. They were ill-trained and vitiated by appeasement when war came, not unlike the "Old Contemptibles" which the Kaiser scorned in 1914. But they have learned and grown in the hard school of battle...
With a gleam in his eye, Shipbuilder Henry J. Kaiser sat down before the Senate's Small Business Committee. Said he, with no preliminary hems & haws: Congress had not yet set a decisive policy governing the disposal of over $15 billion in Government-owned war plants; it is high time Congress did. Forthwith, Mr. Kaiser laid down what he thought that policy should be. The key point: the Government should sell the plants with the primary aim of creating jobs rather than wringing out the last possible dollar for itself...
...short, said Mr. Kaiser, prospective buyers should be required to guarantee a minimum number of postwar jobs, be responsible for the operating capital. But the plants should not be sold as soon as they are no longer needed for war; they should be leased first, with an option to buy, after the employment guarantees had been made good...
...Henry Kaiser added that furthermore, he and not DPC, owns Fontana, even if the Reconstruction Finance Corp. holds a $110,000,000 mortgage. Although RFC lent him the cash to build the plant, it cannot take over unless he stops paying it back. This he does not intend...
Through a canny deal with RFC, Kaiser now takes the profits from some of his shipyards and applies them on his Fontana loan. If he could not use it this way, most of the money would probably go to the Government anyhow in excess-profits taxes. He has already paid off $7,500,000 has another $8,000,000 set aside to pay. The balance is still big. But he warned Big Steel that he is in Western steelmaking to stay. As a matter of fact, said Henry Kaiser, his men are now inspecting Geneva. He may buy that...