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How did John Durant gain control of General Motors?
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Durant’s return to control was imminent by the time the General Motors voting trust expired on October 1, 1915. Early that year Durant and Pierre S. du Pont began buying up General Motors stock in the open market with the aid of Louis G. Kaufman, president of the Chatham and Phoenix Bank of New York City.
Jun 2, 2009 · Durant started the Chevrolet Motor Company in late 1911 and by late 1915, used it to buy GM. He took control, again, losing it during another severe recession in 1920.
Dec 16, 2008 · William C. Durant had become too flamboyant as creator of General Motors. He had lost the conglomerate once, then came back to control it through the fledgling Chevrolet brand which had proved to be a darling of America, as buyers began proving soon after its introduction in 1911.
Apr 21, 2024 · At that point Durant had enough capital to attract Samuel McLaughlin who agreed to merge his Canadian Chevrolet and General Motors companies with Durant's companies to regain control of General Motors in the United States.
Jan 23, 2022 · Du Pont went to Durant’s New York office on Nov. 16 seeking an answer, worried that a financially compromised Durant could take General Motors over the cliff. Some worried Durant, and a stricken ...
- Tim Kiska
Dec 3, 2021 · Over the next few years, Durant would carefully play his hand in the stock market, devising a plan to slowly regain control of General Motors, using Chevrolet as his weapon of choice. By investing his profits from Chevy into General Motors stock, he became a prominent shareholder in the company once more.
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.
