Post Mortem

As a war baby, Globe Aircraft Corp. grew fast. In three war years it built $18.5 million worth of trainer planes for the Army. Its first plant was a converted barn near Fort Worth. At war's end, Globe felt strong enough to venture into the peacetime market with a small civilian plane, the Swift. It floated a $1.5 million stock issue, at $10 a share, to help finance it. Nine months ago, when the small-plane market hit stormy weather. Globe crashed.

Last week, with a great to-do over the wreckage, SEC suspended the "effectiveness" of Globe's stock registration statement....

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!