Re: Packard & Hudson proximity

Posted by Tim Cole On 2013/2/11 17:07:32

The plan was to merge Nash/Hudson and S/P together, but N/H quit the deal. I don't think the result would have been very healthy either. As to why Nance would merge with Studebaker in the first place is not much of a mystery. I have 20 years in the corporate world and can assure you that if you aren't pissing away billions on bad deals and bad mouthing the help then you aren't going anywhere. Anybody with a half a brain could see that Studebaker was in trouble. But heck I said that about GM back in the 80's and was told that maybe one day I would realize that I wasn't as smart as I thought I was. Well, at least I never bought GM stock when Wall Street rigged the price at $100 per share.

In all fairness to the merger plan, Ford almost went under after the war so Studebaker may have seemed wonderful compared to the madness at Ford. That notwithstanding, a good accountant should have been able to figure out Studebaker by virtue of the checking account. I know only all too well that opposing bad deals once underway only leads to personal calamity and I guarantee that people at Packard knew what was happening but didn't say anything out of fear.