Lewis Carroll discussed portmanteau words in his exposition on the poem Jabberwocky. The two words MISERABLE and FLIMSY produced a hybrid MIMSY, incorporating some of the letters and some of the meanings of both. But why not FLISERABLE? The portmanteau word, also known as the blend, has many examples in English.
Wolpow, Edward R.
"The Portmanteau Not Taken,"
Word Ways: Vol. 19
, Article 4.
Available at: http://digitalcommons.butler.edu/wordways/vol19/iss2/4