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| URL:
http://riceornot.ricecop.com/?auto=27103 |
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| Comments: 3 (Read/Post) Favorites: 0 (View) |
Submitted
on: 09-12-2003
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Off-topic |
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Description:
William "Billy" Durant - Founder of General Motors |
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| #1 |
9-12-2003 @ 05:46:39 PM |
| Posted By : Low-Tech Redneck |
Reply | Edit | Del |
Not as well known as Henry Ford, probaby because he was a salesman, not an industrialist. A high-school dropout at 16, he earned himself over a million dollars building workcarts and carragies in the 1890's, as the automobile began to arrive on the scene, he was hired by a little known car company being run by a struggling man who's name should instantly ring a bell, David Buick. During a mini-recession that caused stocks to tank in 1907, Durant took $2,000 and alond with Buick which he now controlled, bought up several struggling car companies including Oldsmobile, Cadillac, and an embryonic Pontiac, then doing buisness as Oakland. THe resulting company was GM, Henry Ford actualy considered joining them in 1909, but the deal fell through
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| #2 |
9-12-2003 @ 05:51:45 PM |
| Posted By : Low-Tech Redneck |
Reply | Edit | Del |
Durant was a good buisnessman, but a horrid CEO, he was twice ousted from directing the company he had founded, and his managment caused the defection of at least one man who would come back to haunt GM, the former head of Buick Division, Walter CHRYSLER
He also founded GMAC, becoming the first company to offer auto financing, somthing Henry Ford loathed
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