American automobile industry in the 1950s
In 1954, the smaller American Motors Corporation (AMC) was formed when Hudson merged with Nash-Kelvinator Corporation in a deal worth almost USD $200 million ($1.735 billion in 2013 dollars) the largest corporate merger in U.S. history at that time. Other mergers with smaller independent manufacturers followed. Although AMC was moderately successful it was never sufficiently large to challenge any of the Big Three, and was eventually bought by Chrysler in 1987.
Locomobile Company of America
The Locomobile Company of America was founded in 1899, the name coined from "locomotive" and "automobile". John B. Walker, editor and publisher of the" Cosmopolitan" magazine bought the plans for an early steam-powered vehicle produced by Francis and Freelan Stanley for a price they could not resist: US$250,000 (with all of one car built, but 199 more ordered), promptly selling half to paving contractor Amzi L. Barber. Their partnership lasted just a fortnight; Walker went on to found Mobile Company of America at the Stanley works in Tarrytown, New York, while Barber moved house to Bridgeport, Connecticut, as Locomobile; the Stanley twins were named general managers. The Stanley twins founded the Stanley Motor Carriage Company in 1902, becoming the sharpest rival to Locomobile.Kimes/Clark, p. 853.