Word: packards
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...next job, as a mechanic in a Packard assembly plant, that eventually led to a career in art. During lunch hour, Guy and some other factory hands practiced tumbling and acrobatics. A talent scout for a vaudeville team noticed Guy and offered him a job with the troupe. Guy took it, but soon decided the future looked mighty meager. Says he: "I kept seeing all those old acrobats hanging around, and they always looked so sad." Guy, who had always liked to draw, spotted an easier act in the show: the artist on stage who drew pictures of customers...
...have embarked on the greatest merger spree in history. In the past few months, by stock swap or outright purchase, Nash and Hudson became American Motors, Hilton Hotels took over the Statler chain, Mathieson Chemical and Olin Industries combined. Still more big mergers are in the making throughout industry. Packard and Studebaker stockholders vote this week on consolidating. Bethlehem Steel is talking merger with Youngstown Sheet & Tube, and Textron is working on a three-way merger with American Woolen and Robbins Mills...
Chrysler was not alone in its troubles; from independent automakers last week came more evidence of 1954-5 rugged competition. Packard reported a $2,794,400 loss in the first half of the year. Its new partner, Studebaker, which lost $8,925,800 in the same period, last week asked its workers to take a pay cut of about 15% from the average $2.37 hourly rate (v. $2.00 for the Big Three). Against the wishes of their leaders, U.A.W. rank-and-filers voted it down. Studebaker threatened to cancel its contract with the union in 60 days and close...
KAISER-WILLYS is on the auction block, may be broken up and sold piecemeal. President Edgar Kaiser offered it to Chrysler Corp., but was turned down. Chrysler has shown interest in the money-making jeep business and Packard in the Maywood (Calif.) assembly plant. But nobody seems to want Kaiser-Willys as a package. The sale is being forced by continuous losses and the fact that Henry J., now 72, needs son Edgar on the West Coast to help run the rest of the Kaiser empire...
...PACKARD will be out first with tubeless tires at no extra cost. Other automakers will follow. Lincoln will use tubeless tires next year, and Cadillac is testing three makes (Firestone, U.S. Rubber, Goodrich), hopes to pick...