DK5-474 - General Motors Corporation by CountMonteCrypto NFT

About "DK5-474 - General Motors Corporation"

by CountMonteCrypto NFT

About the artwork

Previous owner: RUSSELL E. CURL. JR.
Shares: 13
Year: 1967

General Motors Company, commonly referred to as General Motors (GM), is an American multinational corporation headquartered in Detroit that designs, manufactures, markets, and distributes vehicles and vehicle parts, and sells financial services, with global headquarters in Detroit's Renaissance Center. It was originally founded by William C. Durant on September 16, 1908 as a holding company. The company is the largest American automobile manufacturer, and one of the world's largest.

William C. Durant's Durant-Dort Carriage Company, of Flint, Michigan, had become the leading manufacturer of horse-drawn vehicles in the United States by 1900. Durant was averse to automobiles, but fellow Flint businessman James H. Whiting, owner of Flint Wagon Works, sold him the Buick Motor Company in 1904. Durant formed the General Motors Company in 1908 as a holding company, with partner Charles Stewart Mott. GM's first acquisition was Buick, which Durant already owned, then Oldsmobile, on November 12, 1908. In 1909 Durant brought in Cadillac, Elmore, Oakland (predecessor of Pontiac), and the Reliance Motor Truck Company of Owosso, Michigan and the Rapid Motor Vehicle Company of Pontiac, Michigan (predecessors of GMC). Durant over-leveraged the fledgling company in making these acquisitions, and was removed by the board of directors in 1910 at the behest of the bankers who backed the loans to keep GM in business.