The deal maker: how William C. Durant made General Motors
The 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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6-cylinder A. B. C. Hardy Alfred Sloan American asked auto automobile Avenue Bank bankers Billy's bought Briscoe Briscoe brothers brokers brothers buggy Buick Motor Company building built Burman Cadillac called carmakers carriage cash Charles Charles Nash Clara Corporation Crapo David Buick dealers Detroit drive Durant's Duryea engine factory father finance Ford Motor Company Ford's Fred friends gasoline GM stock GM's Gustin Henry Crapo Henry Ford industry investment J. P. Morgan Jackson John later loan Locomobile Louis Chevrolet machine manufacturers Margery Marr Mason Michigan million Model months Motor Car Company Nash never Oldsmobile partner patent percent Pierre plant Pontiac president production quoted race rant Raskob Rebecca Satterlee Selden sell shares sold Stettinius stockholders Storrow tion told took vehicles wagon Wall Street Walter Chrysler wanted Wilfred Leland William Willie Winton workers wrote York City