Chevrolet Timeline Tales: Happy 150th Birthday William Crapo Durant
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...
Tagged: ford motor company
General Motors Tries to Buy Ford… In 1909! WHAT???
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.
Corvette Timeline Tails: Happy 99th Birthday Semon “Bunkie” Knudsen
Within the machinations of a big corporation, to get things done, it’s good to have an angel. Zora Arkus-Duntov had several angels. We’ve talked about Duntov’s relationship with Chevrolet honcho Ed Cole. But one angle that doesn’t get much attention was Simon “Bunkie” Knudsen.
Simon’s father was former GM president, William S. Knudsen. While this was helpful for the younger Kneudsen’s career, things weren’t handed to Bunkie – he had to work for what he accomplished. Like many teenage boys of his generation, Simon was interested in mechanical things. When he asked for a car, his Dad gave him one… in pieces for the young man to out back together. During his college years, Summer break meant a stint working at Gm… on the assembly line. Upon graduation, Knudsen got a job at Pontiac in 1939 and quickly rose up through the management ranks. By 1956 he was the general manager at Pontiac.
