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View Full Version : Did Studebaker "go out of business"?



Son O Lark
09-23-2016, 11:31 AM
Every so often in the media and on this forum, I hear or read that Studebaker went out of business. It has always been my understanding that Studebaker quit making vehicles, and was later bought out and/or merged with other companies. I would hesitate to call this going out of business. Any thoughts on this or am I just trying to be too anal about Studebaker?

Gunslinger
09-23-2016, 11:58 AM
You have it correct. Studebaker only left the auto-making business but still had other divisions. Eventually they merged or were purchased as you said. Eventually the name was dropped (much as Studebaker dropped Packard's name) and as far as I know, the succeeding entity is still around.

ddub
09-23-2016, 12:25 PM
I have always wondered if you had $1000 of SP stock in 1960 what would that be worth now based on all the successive owners of the company. I'm sure someone could figure it out but probably not worth the trouble.

6hk71400
09-23-2016, 02:29 PM
As an addendum to the stock thought: Studebaker stock went up when the Corporation announced the Automobile division was stopping production. It has stated many time that making cars was not the main focus of the company by the time cars stopped being produced.

Bob Miles
Tucson AZ

StudeRich
09-23-2016, 02:48 PM
I would think that when the Studebaker Stock was transferred to McGraw Edison, Wagner, Federal Mogul, or, or, or, Stock, you could sell their Stock and make a Buck or Two.

I am not a "Day Trader", so I don't know everything about stocks, but that is my guess subject to correction.

studegary
09-23-2016, 02:48 PM
I have Studebaker stock, in my name, that I purchased in 1963 or 1964. AFAIK, it is worth nothing, other than the collector value, just like the Rolls Royce stock that I purchased at the same time. Now, the WarnerLambert stock that I purchased at the same time is doing well as Pfizer stock.

Scott
09-23-2016, 05:00 PM
The original Studebaker corporation has gone through many hands. I think the last reference I saw to the Studebaker corporate identity on Lexis Nexis was from about 5 years ago. It was listed as being owned by a bank. I think they were in New Jersey. The last active part of the corporation was Studebaker-Worthington Leasing. They mostly dealt with leasing computer equipment to businesses and I think they became inactive in the very late 1990s or early 2000s.

raprice
09-23-2016, 05:52 PM
As far as I know, Worthington Leasing is still in business and is, I think, somewhere in the southwest, i.e. Texas.
That would be what remains of Studebaker. Check it out.
Rog

8E45E
09-23-2016, 05:57 PM
AFAIK, it is worth nothing, other than the collector value, just like the Rolls Royce stock that I purchased at the same time.

Did it lose its value from the 1971 reorganization?

Craig

SN-60
09-23-2016, 06:13 PM
Every so often in the media and on this forum, I hear or read that Studebaker went out of business. It has always been my understanding that Studebaker quit making vehicles, and was later bought out and/or merged with other companies. I would hesitate to call this going out of business. Any thoughts on this or am I just trying to be too anal about Studebaker?

Let me put it this way,....The part of Studebaker that we care about definitely did go out of business! ;)

Xcalibur
09-24-2016, 12:59 AM
Cars was the only business that mattered to most of us.

56H-Y6
09-24-2016, 08:13 AM
While its true some auto companies completely liquidated when their car building days ended such as Stutz, Pierce-Arrow, Kissel, Moon, Gardner and others. Many auto-making companies continued in business when they quit building cars. Peerless in Cleveland turned to brewing Carling beer when prohibition ended. Franklin morphed into Air Cooled Motors building aircraft engines. Portions of Auburn went onto making stamped metal kitchen cabinets, even Jeep bodies during the war. Hupp moved onto heating units. Graham-Paige, after its short-term involvement with Kaiser-Frazer, moved on to eventually become Madison Square Garden Corporation.

rstrasser
09-25-2016, 05:43 PM
When Studebaker Worthington proposed merger happened in 1979 between Studebaker Worthington and Magraw Edison the Studebaker Worthington stock holders were to be paid 51.50 for each share.
I can not find out what occurred when The Studebaker, Wagner Electric and Worthington corporations got together in 1967 to form Studebaker Worthington.
Usually the share holders of each corporation receive shares in the new corporations or are bought out. I do know that when one company I owned stock in went private they purchased my shares and sent my IRA a check.

Ron

Skip Lackie
09-25-2016, 07:36 PM
Usually the share holders of each corporation receive shares in the new corporations or are bought out. I do know that when one company I owned stock in went private they purchased my shares and sent my IRA a check.

Ron
Thanks -- that has been my understanding, too. The only exception seems to be that the owners of a very few low-value shares sometimes have to specifically request their payment, as the cost of cutting (and mailing in the old days) a check often exceeded the value of the stock.