| The history of GM, the world's largest automaker, saw | | | | the 4.5 million mark, and the auto industry now had |
| it's beginning in 1908. The company was founded by | | | | three giants - GM, Ford and Chrysler. GM now had a |
| William Durant in the year 1902. The shrewd | | | | brilliant engineer turned industrialist at its helm. Alfred |
| businessman that he was, Durant realized that the | | | | Sloan who was later acclaimed for his marketing |
| future lay with cars and not carriages. Initially, the | | | | genius had slowly worked his way up among the |
| company was founded as a holding company for | | | | ranks of GM. His marketing genius breathed a fresh |
| Buick. The latter part of the year saw the company | | | | lease of life into GM that was beginning to get |
| acquiring Oldsmobile, followed by the possession of | | | | overshadowed by Ford. |
| Cadillac, Oakland and Elmore in the very next year. | | | | Ford's philosophy of giving the public the best value for |
| Many of the motor companies were in dire straits | | | | their money offered little variety. But Sloan and GM |
| during the difficult years of the early 1900's. The stock | | | | were interested in providing the public with more than a |
| market panic in 1907 put a lot of small companies into | | | | black box. Stylish colors, features and comfort |
| financial distress. Many of these companies were | | | | became the new motto of the company. GM also |
| running on credit from various bankers. This was a | | | | made a path-breaking offer - the public could now buy |
| golden opportunity for Durant, who proceeded to buy | | | | a car on credit. The five brands of GM - Pontiac, |
| smaller car builders, and companies that built car parts | | | | Cadillac, Buick, Oldsmobile and Chevrolet began |
| as well as car accessories. In 1908, these various | | | | changing every year with the focus being directed |
| companies were folded into a single unit, thus creating | | | | mainly at looks and style. This strategy paid rich |
| the new GM entity. This marked the exciting beginning | | | | dividends. Ford was pushed to the backseat again by |
| of the true history of GM. | | | | GM. |
| William Durant was a flamboyant businessman whose | | | | The great Wall Street crash in 1929 put an abrupt stop |
| curious mix of genius and over-reaching took GM both | | | | to all expansion plans at GM for the time being. Stocks |
| to its heights as well as plunged it into financial distress. | | | | of GM fell rather badly. But, by early 1930's GM |
| In 1910, bankers were forced to step in to prevent | | | | bounced back and bought the Yellow Coach bus |
| financial collapse of GM, and Durant was removed | | | | company. In 1930, GM bought Electro-Motive |
| from the company he had founded. But by 1911, the | | | | Corporation, the internal combustion engine railcar |
| company had made enough advances into the | | | | builder. The next 20 years saw GM powered diesel |
| international market that the General Motors Export | | | | locomotives running on American railroads. December |
| Company was established to handle sales outside the | | | | 31, 1955 is another landmark in the history of GM. GM |
| U.S and Canada. | | | | became the first company to make more than a billion |
| Durant managed to use another company he formed, | | | | dollars in a year. |
| Chevrolet, to come back to power in GM during 1915, | | | | There was a time in the History of GM when it was |
| and the history of GM from 1915-1920 is full of | | | | the largest corporation in the US. The history of GM |
| successes. During this time, the Cadillac became wildly | | | | also shows that there was a time when GM was the |
| successful. In 1918, GM bought the operating assets of | | | | single largest employer in the world. But, in recent times |
| Chevrolet Motors. But, soon America was hit by a | | | | GM has been beset with financial woes. November |
| power recession and in 1920, Durant again found | | | | 2005 saw GM booking a $4 billion loss and about |
| himself out of the company. | | | | 30,000 employees were laid off. 12 plants were closed |
| During the financial boom in the 1920's, the history of | | | | down. |
| GM virtually glowed with success. Auto sales reached | | | | |