Stockholders of the Nash-Kelvinator Corporation and the Hudson Motor Car Company approved the proposed merger of the two firms. The companies would form the American Motors Corporation (AMC). AMC is recognized as the most successful postwar independent manufacturer of cars. It owed its success in large part to its remarkable President George Romney. Born to Mormon missionary parents on a Mormon colony in Chihuahua, Mexico, Romney grew up poor. His grandfather, Miles Romney, who had …showed first 75 words of 402 total…

…showed last 75 words of 402 total…rcent market share. He termed his business philosophy "competitive cooperative consumerism" and argued that monopoly "either by labor or by industry, is bad for America." Romney's views, perhaps ahead of their time, were never fully taken seriously due in part to his tendency to change his stance. His career as a car manufacturer was followed by a political career, during which he served as governor of Michigan and ran for the Republican nomination for president.