Submitted by ralphd on November 6, 2007

• Category: Business
• Words: 2668
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General Motors

The history of GM, the world's largest automaker, saw its beginning in 1908. The company was founded by William Durant in the year 1902. The shrewd businessman that he was, Durant realized that the future lay with cars and not carriages. Initially, the company was founded as a holding company for Buick. The latter part of the year saw the company acquiring Oldsmobile, followed by the possession of Cadillac, Oakland and Elmore in the very next year.
Many of the motor companies were in dire straits during the difficult years of the early 1900's. The stock market panic in 1907 put a lot of small companies into financial distress. Many of these companies were running on credit from...

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