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Tag Archives: J.P. Morgan
GM Board OK’s New Share Repurchases, Higher Dividends
“The GM team’s execution continues to be strong across all three pillars of our capital allocation strategy, which are to reinvest in the business for profitable growth, maintain a strong investment grade balance sheet, and return capital to our shareholders,” said Mary Barra, chair and CEO. Continue reading →
Posted in auto news, economy, financial results, mobility company, news analysis
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Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Barclays, GM share repurchase authorization, J.P. Morgan, Ken Zino, mary barra, Paul Jacobson, X @KenAutoinformed
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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 →