Chevrolet
Posts  1 - 2  of  2
plano
If durant and the McLaughlin brothers had enough Stocks to take over GM Holding Company in 1916 and McLaughlin continued to build Chevrolet in Canada up to today how did AP Sloan get to own Chevrolet before Chevrolet owned General Motors?
Save
Cancel
Reply
replied to:  plano
plano
Replied to:  If durant and the McLaughlin brothers had enough Stocks to take...
So McLaughlin car company started in Canada November 20 1907 with a 15 year contract at cost plus for Buick Power trains Durant went back to flint with the contract that he had invested five hundred Thousand dollars of shares of Buick stock in McLaughlin stock in exchange for McLaughlin Stock in September 16,1908 of five hundred thousand dollars . Durant started General Motors Holding Company with McLaughlin and son inlaw Campbell both Canadians. McLaughlin later traded his Buick stock five hundred thousand shares for five hundred thousand shares of General Motors Holding shares .This would make McLaughlin one of the biggest share holders of stocks in General Motors. This made General Motors of Canada the first General Motors plant in the world. This would show General Motors started in Canada and Durant was kicked out of GM holding company in 1910. He started Chevrolet in 1911 bring in McLaughlin in 1913 to build Chevrolet and with the help of McLaughlin and his shares in General Motors, both traded Chevrolet shares at 7 to 1 for General Motors shares to take 54% of General Motors Holding Company in 1916. General Motors Corperation became in 1918,McLaughlin was given $15,000,000.00 for the balance of his stock in 1964 .Who ownes General Motors of Canada and how did it become a wholly owned US company?
Save
Cancel
Reply
 
x
OK