William Crapo Durant, founder of GM, born 1861

Event Details

William Crapo Durant, founder of GM, born 1861

Time: December 8, 2013 all day
Location: Regional and National
Website or Map: http://www.durantcars.com
Event Type: historic, milestone
Organized By: Pamela Hirschhorn
Latest Activity: Nov 14, 2013

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Event Description

Always a salesman, William and partner, Josiah Dort, started the Flint Road Car Co in 1886, Flint MI. building a $2,000 company into the second largest wagon manufacturer in the world, second only to Studebaker. After being skeptical of the new motor cars, he saw the value and purchased the near bankrupt Buick announced on Sept. 11 1903. Buick was moved from Detroit to Flint. Durant went right to work and entered the Buick in the NY Auto Show and sold over 1,100 orders. Building Buick into the number 2 car company ( right behind Ford ) Durant formed the General Motors Holding Co on Sept. 16th, 1908. He bought companies through cash ( Cadillac ) and stock swaps ( Olds, Oakland ) to form GM. Through over extension and the resession of 1911, Durant was ousted from GM. The then formed the Little Motor Car Co and the Chevrolet Motor Car Co in 1912. After merging the two companies Durant used the stock of Chevrolet to buy GM stock and take control again in 1918. History repeated its self in 1921 and Durant was again ousted from GM. He then started Durant Motors and built cars into the early '30s.  By 1937 Durant was bankrupt but he never quit. He was a manager of a bowling alley in Flint when he pasted away in 1947. Durant made many men millionaires and played a major part in the development of the auto industry.

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