A deal was in the making last week for ailing Studebaker-Packard to sell control to thriving Curtiss-Wright. Despite its critical shortage of cash and falling sales (TIME. April 23), S-P had much to offer: two famed lines of cars, a solid reputation as a defense producer, plus $70 million in losses, including a record $14.3 million deficit piled up in first-quarter 1956. The losses could be turned into a tax saving of at least $35 million by a prosperous purchaser.
To Curtiss-Wright, one of the biggest makers of aircraft engines in the nation. S-P...
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