Quote:
|
Originally Posted by Hudson
As Lee Iacocca once said, you never merge two losers. AMC was formed because Hudson and Nash couldn't go it alone. Studebaker absorbed Packard because Packard was having troubles. A combined AMC/S-P probably would have brought AMC to an end earlier.
But it's all speculation from this vantage point.
|
Packard had more money than Studebaker Hudson. They bought Studebaker, as they thought they were getting a good deal. BUT, Studebaker mislead them on the weight the company was staggering under. Packard was looking for a low-priced entry to do battle with Ford and GM.