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The Studebaker-Packard Corporation is the entity created in 1954 by the purchase of the Studebaker Corporation of South Bend, Indiana, by the Packard Motor Car Company of Detroit, Michigan. While Studebaker was the larger of the two companies, Packard's balance sheet and executive team were stronger than that of the South Bend company.
The combined 1966 gross revenues of the two companies had been $672 million, with net income of $24.5 million. [7] Studebaker was acquired by Wagner Electric, which in turn was merged with Worthington Corporation to create Studebaker-Worthington. [8] The merger was completed in November 1967, creating a company with $550 million of assets. [9]
After an unsuccessful 1954 merger with Packard (the Studebaker-Packard Corporation) and failure to solve chronic postwar cashflow problems, the 'Studebaker Corporation' name was restored in 1962, but the South Bend plant ceased automobile production on December 20, 1963, [8] and the last Studebaker automobile rolled off the Hamilton, Ontario ...
The fountain was first erected in 1906 in Howard Park as a gift from Studebaker co-founder John M. Studebaker. It came down in 1941 as it fell into disrepair. A local committee raised money to ...
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Studebaker had enjoyed earlier success and was the first independent automaker to produce an overhead valve V8 engine, [10] a 232.6 cubic inch, 120 hp unit, the first low-priced V8. The company's peak year was 1950, when it produced and sold 329,884 units. [11] Studebaker struggled during the first half of the decade.
James John Nance (19 February 1900 – 21 July 1984) was an American industrialist who became president of the Studebaker-Packard Corporation.Later, he was chief executive of the Central National Bank of Cleveland, chairman of the executive committee of Montgomery Ward and chairman of the board of trustees of the Cleveland State University and a major property investor.
Studebaker sales continued a rapid decline in 1957-58, so for 1959 Studebaker-Packard discontinued the hardtop Golden Hawk, all Packards, and the Studebaker sedans; the Silver Hawk coupe was the only holdover left alongside the new Studebaker Lark range. It was a make-or-break year, but Studebaker's big gamble paid off; the smaller-appearing ...