A global automotive giant was founded
On this day back in 1908 William Durant , Boss of Buick Motor Company founded the company General Motors in New Jersey. He did it by spending $2,000 to incorporate the company. Durant actually hated cars as he considered them as stinky, lound and dangerous but he created a company that dominated the American car industry for decades.
William was forced out of the company by the board two times after the company bought a lot companies. Durant went bankrupt during the Depression. His last years he was managing a bowling alley. General Motors today produces vehicles in 37 countries under twelve brands e.g. Opel / Vauxhall, Chevrolet, Buick, Cadillac and more.
It's crazy that after all of that, he ended up managing a bowling alley.
Also, I believe GM just recently sold Opel/Vauxhall?
Thanks for the post!
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True - Peugeot - vive la France
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Interestingly that $2,000 William Durant spent back in 1908 would now be roughly $52,631 in current US dollars.
Back in 1908 an ounce of gold was priced at $20.67 making $2,000 = 96.758 ounces of gold.
At today's gold prices of about $1,316 per ounce that incorporation figure expressed in gold would be a sum of $127,334.30!
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And then they destroyed some of the world's best public transit systems :(
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did they? Tell me more
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In the sense the GM bought some of the cities' streetcar system and replaced them with a bus system for their own profits.
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That is naughty by GM well they want to earn
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Hi! Every vehicle produced by General Motors undergoes rigorous testing and quality control measures to ensure it meets the highest standards of safety and reliability. This commitment to quality means that when you choose a General Motors vehicle, you can rest easy knowing you're investing in a vehicle that will serve you well for years to come. In their reviews here https://general-motors.pissedconsumer.com/review.html users confirm the high quality of these cars and say that they enjoy using them.
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