SHIPBUILDING: Class Dismissed

The biggest U.S. shipbuilding combination ever-the Todd-Bath-Kaiser fraternity-was broken up last week. Todd President John David Reilly announced the break by saying that Construction Engineer Henry J. Kaiser & pals had taken over four big Pacific Coast yards.* Todd-Bath couplings (twelve yards) stay put. Reilly's reason for the break: corporate simplification to speed the shipbuilding program.

Speed was why Todd and Kaiser got together in the first place. When the British in 1940 handed Todd a $100,000,000 rush order for 60 freighters, Todd was already working overtime on its repair business,...

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