Re: Packard in the media again

Posted by Jim On 2008/11/9 13:57:28

HH56,
Very interesting information. Though Studebaker had no cash, it had assets, one of which was very valuable to Packard, their dealer network. With Studebaker selling 4-5 cars for Packards 1 it certainly is easy to see how the public perception was (is) that of a merger. I suppose after bankruptcy, Curtis Wright felt of the two, Studebaker had the best shot of survival.

I too ponder over the seemingly fraudulent representation of the Studebaker books. I suppose Packard executives failed miserably by not having an independent auditor review Studebaker's fiscal standing prior to purchase.