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| | TIME Magazine Archive Article -- Heave-Ho -- Mar. 20, 1950 (Site not responding. Last check: 2007-10-25) |
 | | From the $37,500,000 in loans he had received from RFC, Lustron Corp.'s President Carl G. Strandlund had paid himself a salary of $50,000 a year. |
 | | Last week, after RFC had forced defaulting Lustron into receivership, Receiver Clyde M. Foraker's first act was to fire Strandlund, two $25,000-a-year vice presidents, and two other officers drawing $25,000 between them. |
 | | Strandlund is resting." Unless a way is found to operate Lustron profitably, the next step would probably be liquidation. |
| www.time.com /time/archive/printout/0,23657,858777,00.html (139 words) |
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