There's an interesting article in The New York Times about the demise of Packard and its barren headquarters in Michigan.
"In its day, when Detroit was the Silicon Valley of the early 20th century, the Packard complex was a center for innovation. In 1905, the architect Albert Kahn designed Building No. 10 with reinforced steel concrete, creating an airy, spacious workspace. Such construction revolutionized the building of factories around the world.
The demise of Packard took place as the city’s industrial base was beginning to unravel. Other notable firms that folded or merged in that era included the Hudson Motor Car Company, Murray Body, Motor Products and Detroit Stove Works. By the end of the 1950s, unemployment had soared, white flight was under way and Detroit’s downward spiral had begun.
Misery has rarely been mentioned as a reason to pass an auto industry bailout. But walk through the Packard plant on a December day and you will know that once a car company disappears, in southeast Michigan at least, nothing comes along to take its place."
See the full article on NY Times.com.
Friday, December 19, 2008
Packard - When the Cars Go Away
Monday, October 20, 2008
GM-Chrysler Merger Compared to Studebaker-Packard
US News and World Report is comparing a possible GM-Chrysler merger to the Studebaker-Packard merger of the '50s.
"While several industry analysts have panned the idea of a merger, not everyone sees only downsides. Detroit News Columnist Ray Windecker writes that while the merger may seem to be "two drunks leaning on each other . . . what is missed is what happens when the less inebriated drunk picks the pocket of his partner."
"He compares the merger to the Studebaker/Packard merger of the 1950s. "Studebaker had a larger number of dealers," he writes, "an interesting but overpriced collection of smaller and sporty cars and a decent line of light and medium trucks. Packard only had moderately updated luxury cars, but it did have cash." In this case, "GM has the dealer and product advantages, while Chrysler (through its majority owner Cerberus) has spare cash."
Read the full article on US News and World Report.