Word: odlum
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...jittery, one of Wall Street's shrewdest traders, Floyd Odlum, had at least turned cautious. After unloading Consolidated Vultee (TIME, April 6) just before its stock broke, Odlum's Atlas Corp. was 38% in cash and Government securities (total: $68 million), and at Atlas' annual meeting last week he told the stockholders that he intended to keep it that way for "weeks or months" while he took a breathing spell. In short, Odlum seemed to be betting he could buy stocks lower later...
Wide Plans. With Convair, Hopkins' immediate prospects are not quite so rosy. The loss of the B60 contract was a grave shock to ex-Boss Odlum. But Convair still has a backlog of more than $1 billion in orders for its military planes and its pressurized Convair 340 transport. Last year it netted $10,400,000, close to its World War II peak ($12,300,000). With Convair in the fold, Hopkins hopes to make General Dynamics both general, dynamic, and radioactive...
...Wright Field, and from 1949 to his retirement this year, he was chairman of the Department of Defense Management Committee, a top-level military coordinating group. At Convair he succeeds La Motte Turck Cohu, 56, president since 1948, who becomes vice chairman of the board under Chairman Floyd Odlum...
...aircraftmaker last week set up a rental agency for airlines that need new planes but lack the cash to buy them. Floyd Odlum, whose Atlas Corp. controls Consolidated Vultee Aircraft Corp., announced that he would form a $50-million-plus company to buy 100 twin-engined, 40-passenger Convair-Liners. (It will also give Convair some badly needed business.) The planes will be rented out to airlines which may buy them later at cost less depreciation. Odlum hopes eventually to finance the planes of other aircraftmakers in the same...
Hollywood rumor had it that David Selznick had his eye on 50% of RKO's stock. But his eyes were big. Floyd Odlum's Atlas Corp., which owns 46% of RKO, has shown no inclination to sell even one of its 1,300,000 shares...