Re: Romney's selective memory

Posted by 58L8134 On 2015/8/29 12:34:40

Hi Tim and Paul

Romney's later political career notwithstanding, give credit where credit is due. His background wasn't stellar but he was mentored by one of the most savvy auto executives of his generation in Mason. Quite true he wasn't a small car pioneer by any means but he was prescient enough to see its time had come if correctly configured and presented. Note all the other cited flashed-in-the-pan, or were marginal products at best. He steered AMC profitably through the turbulent late '50's-early '60's when consumer preferences changed significantly from primarily full-sized cars to acceptance within compacts, intermediates and pony car segments. He transitioned two failing medium-priced automakers into a highly successful compact car maker in a segment that had consumed every prior contender in failure. Even demonstrated an independent company could one-up the Big Three and succeed; even influence them to enter a segment they'd previously bypassed repeatedly as unprofitable. His eight years as AMC chief were their most successful, even if it was with frumpy Ramblers, its hard to argue with that.

And credit is due Nance for significantly improving Packard's product content and appeal. He can also be given more leeway in that he assumed the leadership of a company in worse shape to compete than did Romney. For Romney, Mason operated a one-man show, he needed only emulate the his example. For Nance, essentially then on-the-job training, surrounded by complacent gentlemen of no future vision other than to not rock the boat. JJN's lack of experience in finance, manufacturing and merger negotiations would ultimately lead to decisions that could but end as they did.

In both cases, difficult, even ruthless, decisions were made and had to be; plants ended up vacant and workers laid off. Ultimately both Hudson and Packard became defunct: but only Romney was able to salvage a viable automaker from the carnage.

Thanks, Paul, I knew you'd enjoy that bit of insight I was able to pull together....in my inimitable style!

Steve