Belt up and enjoy this 365-day ride as you cruise past the most momentous motoring events in history. Packed with fascinating facts about races, motorists and the history of the mighty engine, this is a must-visit web site for any car enthusiast.
General Motors (GM) founder William Durant, filed for personal bankruptcy. Economic historian Dana Thomas described Durant as a man "drunk with the gamble of America. He was obsessed with its highest article of faith--that the man who played for the steepest stakes deserved the biggest winnings." GM reflected Durant's ambitious attitude toward risk-taking in its breathtaking expansionist policies, becoming in its founder's words "an empire of cars for every purse and purpose." However, Durant's gambling attitude had its down sides. Over a span of three years Durant purchased Oldsmobile, Oakland (later Cadillac and Pontiac), and attempted to purchase Ford. By 1910, GM was out of cash, and Durant was forced out of control of the company. Durant got back into the big game by starting Chevrolet, and eventually regained control of GM only to lose it a second time. Later in life, Durant attempted to start a bowling center and a supermarket, but met with little success. Durant's trials and tribulations are proof that, even in America's most successful industry, there were those who gambled and lost.
William C Durant