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