Re: Packard in the media again

Posted by HH56 On 2008/11/9 13:22:19

I believe that is what is mentioned in the Rise and Fall book.

An instance where the Packard credo of "A company run by gentlemen for gentlemen" came back to bite them perhaps--or maybe just incompetence by executives out of their league.

I can't imagine no due diligence and doing a deal with a handshake, accountant data taken at face value, when in fact were nothing close to reality and probably fully known as false when presented--and Packard taking it all in. I believe that same philosophy of taking someone at their word also bit them when doing some of the shared component deals with the merged Nash-Hudson.