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June 17 1954 Packard Purchases

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  • June 17 1954 Packard Purchases

    Being this is June 17, 2010 on this date in 1954 the Board of Directors for Packard ratifies an agreement to purchase Studebaker Corporation.

    John S

  • #2
    It was one of the most unfortunate mergers / buyouts ever.
    ---Studebaker was bleeding money with a break-even way out of line to sales
    ---Studebaker and Packard seemed to agree to forgo due-dilagence
    ---Packard elected to move to a new, too small plant, introduce a new V-8, revise their automatic tranny, introduce an entirely new
    suspension system and begin building their car bodies (previously built at Briggs) all in the same year they intended to merge with
    Studebaker !!!
    ---I believe all these simultanious events would have been a difficult slog for GM let alone a smallish company like Packard.
    ---They made a herioc effort

    Just MHO, Murray
    Life isn't about how to survive the storm, but how to dance in the rain !

    http://sites.google.com/site/intrigu...tivehistories/

    (/url) https://goo.gl/photos/ABBDQLgZk9DyJGgr5

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    • #3
      Originally posted by Packard53 View Post
      Being this is June 17, 2010 on this date in 1954 the Board of Directors for Packard ratifies an agreement to purchase Studebaker Corporation.

      John S
      IIRC, the merger wasn't complete until October 1954, for the 1955 model year.
      Gary L.
      Wappinger, NY

      SDC member since 1968
      Studebaker enthusiast much longer

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