GM : Government Motors or General Motors

We should be proud owning automobile sector now with our tax dollars.....and may be many more to come with help of the Fed's printing press.

As General Motors careers towards the biggest bankruptcy collapse in American corporate history, we look back at the long and sometimes glorious history of the classic US carmaker.

1900s

William "Billy" Durant founded General Motors in 1908 in Flint, Michigan, at the dawn of the US car industry. Durant had previously manufactured horse-drawn vehicles, before acquiring a stake in the Buick Motor Company and turning the struggling carmaker into a major player. Durant's vision was to assemble a series of carmakers under a single company, with each one targeting a particular part of the market, rather than competing directly with each other. Durant doubled GM's stable of companies to two in November of 1908 by acquiring Oldsmobile, before buying Cadillac, Cartercar, Elmore, Ewing, and Oakland in 1909. Full Story