There's one in my town here whose lettering is "GEEZER" and another that is "GRIMPA." Studes were great cars. My older brother had one but would never let us little kids sit in it.
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Fine white bread and baker make up the meaning of the old German name LE. It was spelled a little different (Studebacker, Stutenbecker) We had a 1953 Studebaker Champion when I was a kid. I wish I still had it. It was sporty although not very powerful.