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An account stated that Sloan persuaded his father to buy a controlling interest in the company for $5,000 and let him manage it. [7] Oldsmobile was Hyatt's first automotive customer, with many other companies soon following suit. Henry Leland was among his clients. By 1903, he was said to have summoned the young Sloan and castigated him for ...
Durant's family moved to Flint, Michigan after his father abandoned the family in 1869. [5] They lived with Rebecca's sister, Rhoda, and her husband James Wilson. [5] William dropped out of high school to work in his grandfather's lumberyard. [6] He started out as a cigar salesman in and eventually founded his own carriage company.
He arranged for GM to purchase 51% of axle maker Weston-Mott. Cost-cutting and higher sales were his top priorities. [4] [7] There was tight control of inventories and cash at the corporate level, as well as changes designed to maximize production at each factory. [9] Nash had restored GM to organizational stability and financial health.
A 1932 Pontiac. Established in 1926 as a companion of Oakland, it was the first marque released as part of the companion make program. Sloan, who had replaced du Pont as GM president in 1923, [18] decided to create various "companion makes" to fill the variety of gaps that had developed in the original pricing hierarchy. [19]
The federal government may take an equity interest in GM (GM) in exchange for some of the money it is owed for bailout funds. GM is encouraging its major creditors to swap their debt for equity, too.
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Roger & Me is a 1989 American documentary film written, produced, directed by, and starring Michael Moore, in his directorial debut.Moore portrays the regional economic impact of General Motors CEO Roger Smith's action of closing several auto plants in his hometown of Flint, Michigan, reducing GM's employees in that area from 80,000 in 1978 to about 50,000 in 1992.
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