Word: packards
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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...
...Democrat John Brademas, 31, a political-science teacher at St. Mary's College and a special protege of Democratic National Chairman Paul Butler, is trying for the third time to win the seat now held by Freshman Republican F. Jay Nimtz, 42. With South Bend and its Studebaker-Packard plant a chronic unemployment troublespot, Brademas was touted a winner in 1954 and 1956-and lost both years. This time, with Brademas harping on the still-evident recession and labor going all out against Indiana's right-to-work law, Brademas is given his best chance ever...
Studebaker-Packard last week showed the press its 175-in.-long economy Lark, which gets 22 to 30 miles per gal. Studebaker said the six-cylinder, 90-h.p. models will be priced "below $2,000," but there will be higher-priced models with an op-tional V8, 180-h.p. engine. More than 25,000 orders have poured in to Studebaker, which produced only 44,056 cars during the '58 model year...
...Hawklike grille, called the Lark. It is 175 in. long (v. 209.1 in. for the '58 Chevy), but roomy inside because the company saved space by slicing down the front end and the rear bustle. "Everybody likes the pictures," said Salesman Jim Hockney of Manhattan's Studebaker-Packard Salon Inc. "We have orders, with deposits, for 40 cars-which is just 39 more than we had last year at this time." The new American Motors Rambler is almost the same as the '58 model, which rang up a company-saving 171,000 sales. American expects...
STUDEBAKER-PACKARD plans to go into show business. A. M. Sonnabend, the man ailing Studebaker invited in to find nonauto firms to merge with it (TIME, Aug. 18), is dickering to buy Imperial Records (sales: $10 million) for stock and cash, also smaller Cadence Records (sales: about...