Quote:
I think the turning point was in the mid '80's?
Just my observation, not hard fact.
It can be pinpointed to exactly February 1, 1983, when Allied bought Bendix, the owners of Fram Company. Junk ever since.
From back in the day:
STOCKHOLDERS CLEAR PURCHASE OF BENDIX; ALLIED NET OFF 22%
By ROBERT J. COLE, Special to the New York Times (The New York Times); Financial Desk
February 1, 1983, Tuesday
Stockholders of the Allied Corporation voted overwhelmingly at company headquarters here today to approve a $1.8 billion merger with the Bendix Corporation, formally ending one of the most bizarre merger battles in American corporate history. As the vote was being tallied, Edward L. Hennessy Jr., chairman of Allied, told stockholders that Allied's profits plunged 22 percent in both the fourth quarter and for all of 1982. Later, he said that those results would have been even worse if Bendix had been acquired in time to be included in the results. In response to questions at a news conference, Mr. Hennessy sharply assailed the highly publicized takeover battle that began last summer with Bendix bidding for the Martin Marietta Corporation.
The 12 Scariest Words in the English Language:
We are here from the Government and
we want to help you.
1968 Plymouth Road Runner, Hemi and much more
1968 Dodge Charger, 318 and not much else
1958 Dodge Pick Up, 383 and loud
1966 Dodge Van, Slant 6 and cool
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