William C "Billy" Durant - Salesman Extrodinaire

Billy Durant is the founder of the General Motors Company. Partnering with Josiah Dallas Dort in 1886, Durant purchased the Coldwater Road Cart Company. In 1904, Billy Durant was approached by James Whiting of the Buick Co. to promote his automobiles. Between 1904 and 1908, Durant was Buick's president. At this time the top four auto producers in the U.S. were Buick, Reo, Maxwell -Briscoe and Ford. The four producers held meetings to merge and form one large company. Negotiations began in New York with J. P. Morgan's son-in-law, Herbert Satterlee, and ended when Ford and Reo pulled out of the deal. Billy Durant was still determined to start this new auto company and at Satterlee's suggestion dropped the proposed name "Internatonal Motor Car Company" and chose General Motors. On September 16, 1908, he incorporated General Motors of New Jersey with a capital of $2,000. In only 12 day, their stocks shot up to $12, 000, 000. Durant lost control of the company in 1910. During the years of 1911 to 1914, he founded numerous manufacturing companies: Mason Motor Company, Little Motor Company, Chevrolet Motor Company of Michigan, Sterling Motor Company and Monroe Motor Company. He regained control in 1915 but was forced out again in 1920. He founded Durant Motors in 1921. A declining market and the Great Depression ended Durant's automotive career.