Word: packard
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Dates: during 1950-1959
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Studebaker pinned its hopes on a face lift: new wraparound grilles and rear bumpers, plus a longer look-2 in. added to sedans, almost 6 in. to station wagons. The company plans to raise Studebaker output at least 17.5% to 103,000 units in 1957, will show its Packard in December at the New York Auto Show...
JAMES NANCE, who recently stepped down as President of Studebaker-Packard, will take a job as Ford Motor Co.'s vice president for marketing. Nance will have free rein as general sales boss on company-wide basis...
...members are regularly assessed for some $2,600,000 for educational work that has never been known to hurt the Democratic cause in populous Wayne County (Detroit). "Look what we're up against," says Feikens, an ardent youngish (38) lawyer with the lean and hungry mien of a Packard dealer. "This is the best-heeled, toughest political gang in the country...
When skidding Studebaker-Packard Corp. was rescued from the brink of bankruptcy last summer (TIME, July 30), President James J. Nance agreed with his benefactor, Curtiss-Wright Corp., that he would surrender his $150,000-a-year job. Nance also gave up a long-term contract that would have paid him $200,000 a year by 1961 plus a guaranteed annual wage of $40,000 if he left. In return, Jim Nance got a fat unemployment compensation settlement. The deal, disclosed last week: a $286,000 trust fund, an additional $75,000 plus for salary through Jan. 31. He also...
...much as 200% in past year (to record $19.62 per ton for oil from Persian Gulf to United Kingdom). Ship prices are also following trend, with standard T-2 tankers currently pegged at $3 million v. $2.2 million as late as last April. 1957 PACKARD will be produced despite reports that Studebaker-Packard and Rescuer Curtiss-Wright would drop next year's model. In January, company will start turning out either face-lifted 1956 model or redesigned and upgraded Studebaker bearing Packard name. Completely new model based on experimental Predictor (TIME, April 23) will come...