Editing Borgward (section)

===Post mortem===
The German magazine ''[[Der Spiegel]]'' published a thoughtful piece in 1966, implying that with a little more support, and if the proprietor had been more willing to take advice from his own directors, the Borgward company could have easily overcome its financial problems of 1961. But Carl Borgward was financially naive and reluctant to accept advice: his preferred source of credit had always involved shunning the banks and simply taking extra time to pay his creditors, rejecting advice on the financing of his business from his own finance director. By autumn 1960 he was holding on to unpaid creditor invoices worth more than 100 Million Marks for sheet metal and tyres alone.<ref name="History of Borgward">[http://www.borgward.nl/docs-uk/history.htm History of Borgward] {{webarchive |url=https://web.archive.org/web/20160303201600/http://www.borgward.nl/docs-uk/history.htm |date=March 3, 2016 }}</ref><ref name=Spiegel12dez19665102>{{Cite journal|url= http://www.spiegel.de/spiegel/print/d-46415433.html |issue=51 |title=Hüter des Hauses |quote="So tüchtig wie als Konstrukteur, so naiv war Borgward im Umgang mit Geld. Er lehnte Bankkredite ab und finanzierte sich über seine Lieferanten, deren Rechnungen er jeweils erst nach drei Monaten beglich.....Da er überdies ständig neue Typen entwickelte und keinen Widerspruch duldete (Borgward zu seinem Finanzdirektor Carstens: "Sie sind ja doof, ich weiß schon, wo mein Geld bleibt"), waren seine Finanzen schließlich durcheinander geraten. Im Herbst 1960 schuldete das Unternehmen den Blech- und Reifenlieferanten mehr als 100 Millionen Mark." |access-date=2013-05-15 |journal=[[Der Spiegel]]|editor1-first=Rudolf |editor1-last=Augstein |editor2-first=Claus |editor2-last=Jacobi |date=12 December 1966}}</ref> Given that all the company's creditors were eventually paid in full, the liquidation decision appeared nevertheless to have been taken prematurely.<ref name="History of Borgward"/><ref name=Spiegel12dez19665101>{{Cite journal|url= http://www.spiegel.de/spiegel/print/d-46415433.html |issue=51 |title=Hüter des Hauses |quote="Als der Bremer Autokonzern 1961 zusammenbrach, tauchten die ersten Zweifel am deutschen Wirtschaftswunder auf. Heute zeigt sich, daß Borgward voreilig in den Konkurs getrieben wurde."  |access-date=2013-05-15 |journal=[[Der Spiegel]]|editor1-first=Rudolf |editor1-last=Augstein |editor2-first=Claus |editor2-last=Jacobi |date=12 December 1966}}</ref>