Wikipedia (on-line encyclopedia) says "Acquired in 1954 by Packard Motors Company of Detroit, Michigan, Studebaker became a division of the Studebaker Packard Corporation from 1954 to 1962. In 1962 it reverted to its previous name, the Studebaker Corporation." I always thought it was the other way around-- does Wikipedia need a correction?
thanks, Jim
Business and History, Karl's explanation fits the meaning of the business term: Merger. Ergo, Jim, I think you would be correct in setting Wikipedia straight. Just my 2 cents worth. FlatheadGeo
It was not Budd that supplied bodies for Packard; it was Briggs. Walter O. Briggs died in 1952, and the family wanted to sell out. On October 23,
1953, Chrylser bought all 8 Briggs body plants. Packard was able to negotiate a 5-year lease for the Conner Ave. plant with an option-to-buy, but they could not afford it, so as you said, the merger with Studebaker made some sense at the time.If you are able to pick up a copy of The Fall of the Packard Motor Car Company by James A. Ward, (ISBN 0-8047-2457-1) do so. Its good insight as to how the events worked out for Packard in the postwar years.
Craig
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