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Milestones – Henry Ford at 150 years
Today marks the 150th anniversary of the birth of Henry Ford, whose ideas helped revolutionized transportation, brought mobility to the masses and arguably established the U.S. middle class. Continue reading
Posted in auto news, milestones, people
Tagged autoinformed, autoinformed.com, henry ford, Ken Zino, model t
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Milestones – 1908 Billy Durant Founds GM
William “Billy” Crapo Durant founded General Motors this week on 16 September 1908 with Buick as the cornerstone. Durant soon brought Oldsmobile, Cadillac, Oakland (Pontiac predecessor) and two dozen other companies under a GM holding company. However, Durant lost control of the company to bankers in 1910 after his money supply was cut off. To get new financing, Durant, while remaining a GM vice president, relinquished control of the company to a new board comprised of bankers, but in those days GM was running without taxpayer subsidies or bailouts.
“The business philosophy was simple and as history shows enormously successful. One company – General Motors – would own and sell multiple brands making for greater growth and profits. It proved true,” said AutoCrat. Continue reading →