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How to “Hatch” a Flint Revival with Local History
Statues of Louis Chevrolet (July 2012), David Buick (December 2012) and GM founder William C. “Billy” Durant (August this year) have been unveiled along Saginaw Street, the main street in downtown Flint. Another, of Walter Chrysler, who was president of Buick in Flint before he started Chrysler Corporation arrived a few weeks ago at Flint’s Bishop Airport. Continue reading
Posted in auto news, people, shows and events
Tagged al hatch, autoinformed, autoinformed.com, flint Michigan, joe rundell, larry gustin
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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 →