Word: packards
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...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...
RESCUE PACT between Studebaker-Packard Corp. and Curtiss-Wright Corp. reached secretly last month (TIME, July 30), was finally made official. In addition to the expected provisions, e.g., the aviation company will run Studebaker-Packard under terms of a management contract, Curtiss-Wright revealed that it is negotiating a contract with West Germany's Daimler-Benz A.G. that will give Studebaker-Packard access to new German engineering developments and may ultimately result in the U.S. auto firm's distributing Daimler-Benz cars and trucks...
After six months of negotiations, Curtiss-Wright and Studebaker-Packard finally came to terms last week on "Operation Rescue." The two companies will not merge-at least not right away. But they will tie themselves together under a "joint program" agreement, with Curtiss-Wright running Studebaker-Packard and taking an option on enough Studebaker stock for a formal merger later...
Predictors & Mercedes. Under the present deal, Studebaker will consolidate all automaking at South Bend, leaving the defense business to Curtiss. With its new funds, it will be able to bring out a 1957 Studebaker line on schedule. However it will probably stop making Packards for a year, wait until 1958, when it can develop an interchangeable body shell with Studebaker along the lines of its Packard Predictor dream car. Another possibility: that West Germany's Daimler-Benz will come in on the agreement, use Studebaker's dealer setup to distribute Mercedes cars and trucks in the U.S. Eventually...
...automan, who learned the fine points of the industry as Ford's director of manufacturing. Taking over Curtiss in 1949 when it was doing poorly, he cut costs and boosted production so effectively that the company turned a profit of $35 million in 1955. Now, with the Studebaker-Packard deal, he is going back to a business he knows even better...