Word: packard
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Dates: during 1950-1959
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...GLAD YOU CAN HELP was the United Fund's slogan this fall in South Bend, Ind., one of the cities worst hit by 1958's recession. Many were. Though Studebaker-Packard's work force had been cut 10%, men still on the job dug deeper, came up with exactly the same as last year's total: $67,000. In jittery Detroit, Ford's workers boosted their average contribution from $20.02 to $24.35. Northrop Aircraft's payrollers in Los Angeles raised their contribution to the local A.I.D. chest from $269,000 last year...
...nine months to $16.2 million, v. $229.5 million profit in the same period last year. Chrysler's ink was even redder: its third-quarter loss of $20-million pushed the loss for nine months to a total of $45.2 million, v. a $103.6 million profit in 1957. Studebaker-Packard, which lost $12.4 million in the first nine months of 1957, lost $22.5 million through this September...
Studebaker-Packard's new small car, the Lark, also made pricing news. Its price was set lower than the list prices of the Big Three and in some cases below American Motors' hot-selling Rambler. The Lark begins at $1,756 for a two-door, six-cylinder model, ranges to $2,362 for an eight-cylinder station wagon. Its four-door six carries a list price of $1,821 v. $1,918 for the cheapest four-door Rambler, but most of its two-door models run slightly above Rambler's two-door Rambler American series...
...before, and prospects are for a production of 75,000 this week. Production was still held back by wildcat strikes at General Motors, but other carmakers hiked schedules. Chrysler hopes to increase production 15% this week. Ford's Mercury-Edsel-Lincoln division plans a 40% hike, and Studebaker-Packard scheduled a 50% rise; with Ramblers running off the line at an alltime peak, American Motors raised schedules...
Blue chips were the chief gainers in the market rise, but many a less distinguished stock chalked up impressive gains. The week's most active stock was Studebaker-Packard. Though the company has not earned a dime in four years, its stock gained if for the week, largely on the strength of a recapitalization program approved by stockholders at midweek. In two months Studebaker's stock has doubled its value...