Re: What SINGLE factor MOST contributed to the demise of Packard?

Posted by Tim Cole On 2013/4/29 16:13:59

Granted the Studebaker merger by itself was a disaster. But given Lincoln was losing money on every car sold didn't leave a lot of encouragement for the Packard line as a stand alone brand.

What caught my eye was a $90 million addition to unfunded pension liabilities at Studebaker for 1954. Well that's huge and enough reason to stay away from any merger. That's a bride with AIDS and syphilis.

The bad management was at Studebaker, but at least they were diversified enough to survive by getting out of the car business.