The Deal Maker: How William C. Durant Made General MotorsThe roller-coaster life of the flamboyant creator of General Motors William C. Durant did big things the big way: he overreached, but, until his final failure, he picked up the pieces time after time to confound his competitors. From a turbulent childhood in the small town of Flint, Michigan, to his phenomenal success in creating General Motors, Durant's meteoric career easily rivals the success stories of modern legends like Ted Turner, Rupert Murdoch, and Bill Gates. With his trademark smile and personal charisma, Durant assembled General Motors in a few short years, buying companies at the rate of one every thirty days. Durant's deal-making artistry even tempted Henry Ford, and had Durant upped his acquisition price Ford would be a division of GM today. Durant's story illuminates the conflict between innovation and control of innovation -of the uneasy alliances struck again and again between inventors and their sources of capital. His years of heady success building General Motors were marked by epic struggles with bankers. But he depended on only a few sources of big money to finance his exploding business, and pitted himself against forces he underestimated or refused to consider. Gambling on a run on GM stock, he was finally forced into a buyout that ousted him from his role in the GM empire. Into the dramatic tale of this early twentieth-century mogul come the fascinating automotive pioneers -Henry Ford, David Buick, Charles Nash, Albert Champion, Louis Chevrolet, and Alfred P. Sloan. On Wall Street, J. P. Morgan turned down Durant's request for a loan while Pierre du Pont invested in Durant's expansion. Tracing the fortunes of a man and his era, The Deal Maker is a fast-paced, rousing tale of Durant's dizzying success and ultimate failure. |
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Page 54
... Marr met at the Detroit Yacht Club , where Marr was working with some friends on a marine motor . Buick watched the young mechanic work , and hired him on the spot . Marr , who wore a derby hat in the shop , was soon foreman and , three ...
... Marr met at the Detroit Yacht Club , where Marr was working with some friends on a marine motor . Buick watched the young mechanic work , and hired him on the spot . Marr , who wore a derby hat in the shop , was soon foreman and , three ...
Page 55
... Marr all my right [ sic ] , title and interest in the Automobile known as the Buick automo- bile . " The letter was signed August 16 , 1901 . Nothing much happened over the next year and a half . Marr worked part - time in the workshop ...
... Marr all my right [ sic ] , title and interest in the Automobile known as the Buick automo- bile . " The letter was signed August 16 , 1901 . Nothing much happened over the next year and a half . Marr worked part - time in the workshop ...
Page 61
... Marr knew they had the most powerful engine in existence . In June 1904 , Whiting relented . With the understanding ... Marr called it the Model B. Whiting himself decided how to test it . The first try was a circuitous , 230 - mile run ...
... Marr knew they had the most powerful engine in existence . In June 1904 , Whiting relented . With the understanding ... Marr called it the Model B. Whiting himself decided how to test it . The first try was a circuitous , 230 - mile run ...
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6-cylinder A. B. C. Hardy Alfred Sloan American asked auto automobile Bank bankers Billy's bought Briscoe brokers brothers buggy Buick Motor Company building built Burman Cadillac called carmakers carriage cash Charles Clara Corporation Crapo David Buick dealers Detroit drive Durant Motors Durant's Duryea E. I. Du Pont engine factory father finance Flint Ford Motor Company Ford's Fred gasoline GM stock GM's Henry Crapo Henry Ford industry investment J. P. Morgan John later letter loan Locomobile Louis Chevrolet machine manufacturers Margery Marr Mason Michigan million Model Motor Car Company Nash never Oldsmobile partner patent percent Pierre plant Pontiac president production quoted race rant Raskob Rebecca Satterlee Scrobogna Selden sell shares sold Stettinius stockholders Storrow tion told took vehicles wagon Wall Street Walter Chrysler wanted Wilfred Leland William William Crapo Durant Willie Winton wrote York City