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The inancial analysis of the company for 1995 comparing data from 1993 and 1994 Very well researched General Motors - Financial Ratio Analysis I General Motors History Highlights In its early years the automobile industry consisted of hundreds of firms each producing a few models William Durant who bought and reorganized a failing Buick Motors in 1904 determined that if several automobile makers would unite it would increase the protection for the group He formed the General Motors Company in Flint Michigan in 1908 Durant had bought 17 companies including Oldsmobile Cadillac and Pontiac by 1910 the year a bankers syndicate forced him to step down In a 1915 stock swap he regained control through Chevrolet a company he had formed with race car driver Louis Chevrolet GM created the GM Acceptance Corporation auto financing and acquired a number of businesses including Fisher Body Frigidaire sold in 1979 and a small bearing company Hyatt Roller Bearing With the Hyatt acquisition came Alfred Sloan an administrative genius who would build GM into a corporate colossus Sloan president from 1923 to 1937 implemented a decentralized management system now emulated worldwide The auto maker competed by offering models ranging from luxury to economy colors besides black and yearly style modifications By 1927 it had become the industry leader GM introduced a line of front-wheel-drive compacts in 1979 Under Roger Smith CEO from 1981 to 1990 GM laid off thousands of workers as part of a massive companywide restructuring and cost cutting program In 1984 GM formed NUMMI with Toyota as an experiment to see if Toyotas manufacturing techniques would work in the US The joint ventures first car was the Chevy Nova GM bought Ross Perots Electronic Data Systems 1984 and Hughes Aircraft 1986 In 1989 the company bought 50 of Saab Automobile In 1990 GM launched Saturn its first new nameplate since 1926 reflecting a new companywide emphasis on quality Two years later it
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