General Motors Ford

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General Motors Company was formed with an escrow account set up by R S McLaughlin for 15 years of Buick Motors in 1907 on September 16, 1908, in Flint, Michigan, as a holding company controlled by William C. Durant, owner of Buick. At the beginning of the 20th century, there were fewer than 8,000 automobiles in the U. S. , and Durant had become a leading manufacturer of horse-drawn vehicles in Flint helped by his purchase of the Carriage Gear patent from the McLaughlin family in Canada, in the 1880s and 1890s, before making his foray into the automotive industry in 1904 by purchasing the fledgling Buick Motor Company. GM's co-founder was Charles Stewart Mott, whose carriage company was merged into Buick prior to GM's creation in 1918. Over the years, Mott became the largest single stockholder in The USA, and spent his life with his Mott Foundation, which has benefited the city of Flint, his adopted home. GM acquired Oldsmobile later that year. In 1909, Durant brought in Cadillac, Elmore, Oakland, and several others. Also in 1909, GM acquired the Reliance Motor Truck Company of Owosso, Michigan, and the Rapid Motor Vehicle Company of Pontiac, Michigan, the predecessors of GMC Truck. Durant, along with R. S. McLaughlin, lost control of GM in 1910 to a bankers who held the Escrow account' trust, because of the large amount of debt taken on in its acquisitions, coupled with a collapse in new vehicle sales.

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General Motors Ford