Re: Packard in the media again

Posted by HH56 On 2008/11/9 13:43:37

From articles I've read, don't think there was any cash from Studebaker to be had. I think the actual purchase was mostly a stock deal.

From a supposedly break even point of around 175000 cars which was almost what they (Stude) were selling to a real number almost double that meant Packard was shelling out a tremendous amount of its dwindling assets to keep Studebaker going. True, they were selling 4-5 cars to Packards one but each one sold at a loss couldn't go on for long.

That seems to be the case today as well if the media reporting is to be believed.