Tag: william crapo durant

Chevrolet Timeline Tales: Happy 150th Birthday William Crapo Durant

Published on by Scott

Dateline: 12.8.11

Cigar salesman, to Wall Street tycoon, to bowling alley manager?

(Where did William Durant’s unusual middle name come from? Check out the PS at the bottom of this post. – Ed)

The name “William Crapo Durant” has been making somewhat of a comeback as of late, thanks to the 100th anniversary celebration of Chevrolet. Durant came of age as a young man in early days of the American Industrial Revolution. It was the time of the railroad robber barons, John D. Rockefeller, J.P. Morgan, Standard Oil, George Westinghouse, Thomas Edison, and others. Electricity and electric light was utterly fantastic to people, and men were building motorized carriages to replace horse drawn transportation. It was an amazing time lead by tough and ruthless businessmen.

Born in 1861 in Boston, Massachusetts, William started his working career as a cigar salesman. He obviously had a keen mind for business and started his first company in 1886 at the age of 25, building horse carriages. Starting with $2,000, the Flint Road Cart Company quickly became a $2 million dollar business with sales from around the world. Companies came, merged, and were gone quickly throughout Durant’s career. By 1890 his Durant-Dort Carriage Company was the number one carriage company in the world!

An interesting side note about Durant is that he was a horse and carriage man first. The earliest horseless carriages were very dangerous and Durant did not like them. So much so that he wouldn’t let his daughter ride in one! By 1900 there was a significant public outcry against the new fangled dangerous buggies. There were no rules of the road, most roads were rutty, dirt horse paths not at all capable of withstanding machines with speeds double and more of that of horses. Durant saw a problem and offered a solution – build safer cars.

Starting with a local car company called Buick, William entered a Buick automobile in a New York auto show in 1904 (yes, they had car shows a hundred years ago!) and came home with orders for 1,108 Buicks. At that point, Buick had only built 37 cars! From 1904 forward, William Durant would become one of a handful of movers and shakers in the new fledgling automobile industry.

Here’s a list of the car companies that passed through Durant’s hands: Continue reading “Chevrolet Timeline Tales: Happy 150th Birthday William Crapo Durant” →

General Motors Tries to Buy Ford… In 1909! WHAT???

Published on by Scott5 Comments

Dateline: 11.7.11

William Durant once got approval from GM’s board of directors to buy Ford!

 

2012 is Chevrolet’s 100th birthday year and unless you’ve been in a coma, you could not have missed the celebration. Last summer we told you about the most popular Chevrolet of all time contest. Sorry plastic fantastic fans, the Corvette fell in the 3rd round of competition and the ‘69 SS/RS Camaro was the eventual winner. Then on November 3, 2011 media outlets celebrated Chevrolet’s 100th birthday with feature stories and slide shows. (see special slide show link at the bottom of this post) Chevrolet commercials have been featuring the 100th birthday celebration, as well as car magazines. And GM’s performance flagship car, the Corvette, will offer buyers the Centennial Edition option for 2012. Yes, it’s a heady time for Chevrolet.

Here's William Crapo Durant in his first car, a 1906 Buick Model F.

But on page 14 of the December 2011 issue, Motor Trend magazine dished up what I thought was a tasty trivia tidbit of seldom talked about General Motors history. Referencing Lawrence R. Gustin’s book, “Billy Durant, Creator of General Motors,” MT dropped this fascinating factoid.

In the early days of the American car industry, there were hundreds of car companies, most of which have been long forgotten. Many of the brand names that are still with us were once shabby little enterprises. Even though it wasn’t the computer age, “business is business” and a feeding frenzy was going on. Car companies were buying up other car companies that were then bought up by bigger or more aggressive car companies. There’s always a bigger fish, right?

William Crapo Durant (yes, that was his middle name) worked out a deal to buy the Ford Motor Company for $2 Million in cash, plus an additional $4 Million paid out over three years, at 5-percent interest. Billy pitched the deal to his company’s board of directors on October 26, 1909 and they approved, IF he could get the financing. But the banks said, “NO!” It probably seemed way too risky with possible cost overruns, etc. Continue reading “General Motors Tries to Buy Ford… In 1909! WHAT???” →