Re: Would it have been easier to salvage Packard than Studebaker?

Posted by Pack120c On 2010/11/23 17:00:18

In order to play the game further (after '56) Packard needed capital. The banks said no. Game over. No matter how great the 1958 designs were or the economies of scale they hoped to get with a Studebaker merger they needed to have the capital to retool.

If you looked at their balance sheet and cash flow statement. would you lend them any money??