SHERWOOD HARRY EGBERT WHEN Studebaker-Packard Corp.'s new 6-ft. 4-in., 210-lb. president arrived in South Bend 2½ months ago, the city hung a sign over the streets proclaiming: "Welcome Sherwood Egbert." The townsfolk did not know Egbert but they knew very well that as Studebaker goes, so goes South Bend. And Studebaker is not going well; it has produced only 14,000 cars in 1961 v. 37,000 by this time last year. Inside the grimy plant, old hands had serious misgivings about how good the new driver would be, since he had no previous auto-industry experience. Sherwood Harry Egbert, 40, came from 14...

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