Re: The Atomic Packard returns

Posted by John Harley On 2013/3/14 20:58:03

Friends

The WWII contracts in the US were cost plus 3%. PMMC, ever patriaotic, billed the government cost plus 1.5%.

Hitler nationalized Opel, with belonged to GM. After the war, GM tried to sue the government for the damage done to the Opel plants done by Allied bombing. I don't know if they succeded.

Charlie Wilson, Eisenhower's Secretaary of Defense, was fomerly the Chairman of GM. During his confirmation hearings, he said "What's good for General Motors is good for the country and vice versa". After his confirmation, Packard lost much of their defense business in the name of national security. At that point defense business was 50% of PMCC"S business and 80% of their profit.

Regards

John Harley