GM And Wm Durant


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GM and William Durant

William Durant was one of the most prominent business figures in the evolution of the automobile and the founder of what would become the worlds largest auto maker . Wm Durant was born in Boston Massachusetts in 1861 and was the son of a French Canadian couple . In his early teens Billy went to work for his grandfather , in his lumber yard . Later with a partner Billy Durant started the Cold Water Road Cart Company IN ABOUT 1885 . It soon became the Durant-Dort Carriage Company . By 1900 this company was the largest horse-drawn wagon and carriage company in America .

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Durant accepted the offered position of general manager of The Buick Motor Company in 1904 . Billy as he was called , was so very successful at his managers job that he soon became president of Buick .

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In 1908 Durant organized the incorporation of General Motors Corporation as a holding company . His reputation for success in managing his carriage company and then Buick , aided him to sell shares in his new Corporation . He went on to sell 12 million dollars worth of shares in just 12 days .

After founding the General Motors Corporation , and raising funds through the sold shares , Durant bought the Buick Motor Company .

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He then bought the Olds Motor Vehicle Company . Oldsmobile remained a division of GM until 2004 when it was replaced with the Saturn line . Saturn is basically an Oldsmobile but made by the Buick division of GM .

 

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Durant then bought the Oakland Motor Company of Pontiac Michigan (it later became the Pontiac Motor Company) .

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Durant needed money aquired from Buick’s banks bank account , to buy the Cadillac Motor Car Company .

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Durant also aquired a number of parts manufactures and parts supply companies , one of which was AC Delco . The AC stands for Albert Champion the owner and founder of Delco .

In about 1 ½ years General Motors aquired about 25 auto makers . Elmore and Reliant Motor Truck Company were among those companies . The investors were displease when the aquiring of all these companies put a very heavy financial burden on General Motors and Durant was relieved of control of GM in 1910 .

Wm Durant was then a part of the Little Motor Car Company for a time . During his time with Buick Motor Company , Durant had worked with young man who drove a race car for Buick and also worked as a machinist . This man had a machine shop at home were he designed his own engine . Durant formed a partnership with the man , named Louis Chevrolet . Together the founded the Chevrolet Motor Company which opened in 1911 . The Little Motor Car Company aquired and its facilities became part of Chevrolet .

Though The Chevrolet Motor Company was very successful , Louis Chevrolet had differences with Durant and bought out Louis Chevrolets share of the company . Chevrolet Motor Company was so successful that Durant was able to buy enough share in General Motors to gain controlling interest in GM . Durant took control of GM again in 1915 .

Due to the fear created for the financial investors by William Durant’s very aggressive business manner , Durant was forced to resign from GM in 1920 .

William Durant started the Durant Motor Company in 1921 . He aquired Locomobile at a liquidation sale .1n 1922 .

Durant aquired Mason Trucks . He also had dealings with Dort-Frontenac , Louis Chevrolet’s racer manufacturing company .

Due to the decline in sales during the Great Depression , the last U,S, made Durant Automobile was built in 1931 .

The Durant Motor Company , assembly plant , located in Lansing Michigan was purchased by General Motors in 1935 , and Buicks Oldsmobiles and Cadillacs were built there .

Durant-Frontenac automobiles were built in Canada until 1933 .

William Durant’s automotive ended in 1933 , but he did move on to other business ventures .

William Durant was a brilliant business man of the early automotive world and the GM Corporation that he founded is the largest automaker in the world today . You could refer to Durant’s contributions to the automobile industry as gigantic and topped only by Henry Ford .

William Durant passed on in 1947 .