In 1908, these various companies were folded
In 1908, these various companies were folded into a single unit, thus creating the new GM entity. This marked the exciting beginning of the true history of GM.
William Durant was a flamboyant businessman whose curious mix of genius and over-reaching took GM both to its heights as well as plunged it into financial distress. In 1910, bankers were forced to step in to prevent financial collapse of GM, and Durant was removed from the company he had founded. But by 1911, the company had made enough advances into the international market that the General Motors Export Company was established to handle sales outside the U.S and Canada.
Durant managed to use another company he formed, Chevrolet, to come back to power in GM during 1915, and the history of GM from 1915-1920 is full of successes. During this time, the Cadillac became wildly successful. In 1918, GM bought the operating assets of Chevrolet Motors. But, soon America was hit by a power recession and in 1920, Durant again found himself out of the company.
During the financial boom in the 1920′s, the history of GM virtually glowed with success.
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