September 26, 2006

Today in Automotive History

1910 : Durant loses control of GM

William C. Durant, carriage maker and entrepreneur, was the original patriarch of the corporate behemoth General Motors (GM). But financial difficulties cost him control of the company on this day. Determined to regain control of his brainchild, Durant joined forces with Louis Chevrolet to establish the Chevrolet Motor Company. Five years later, Durant and Chevrolet acquired control of GM and extended the massive umbrella of the General Motors Corporation, with Durant serving as president. Yet, he would go on to lose control of GM yet again in 1920, this time permanently.

Posted by Quality Weenie at September 26, 2006 07:13 AM | TrackBack