When Floyd B. Odium's Atlas Corp. bought control of Consolidated Vultee Aircraft in 1947, it looked as if Speculator Odium had made a mistake. That year Convair lost $32.4 million on its C-24O twin-engine airliner, proceeded to drop about $11 million more on it in 1948. But even before the Korean war began, Convair's B-36 bomber had become the Air Force's intercontinental bomber and Convair began to make money. From war orders, Convair made $3,700,000 in 1949, more than $10 million in 1950.
In 1951, its net dipped to $7,700,000. But last week...
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