re: #212 Aqua Obama

The demise of Studebaker was probably the most sordid out of the lot. The board of directors literally tried to run the car division into the ground (despite a CEO going rogue). When they finally got their way they left town and screwed everybody on their pensions.

Before the Packard merger, they were one of the friendliest union shops in the country. The guy who eventually took them over and merged them into oblivion was a dude called Derald Ruttenburg, who helped bring us the term “leveraged buyout”.