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Media

Date

ca. 1910

Location

Unknown

With an unprecedented number of acquisitions in a period of just two years, GM was financially over-extended and burdened with excess production capacity when the U.S. economy and vehicle market took an unanticipated dive in 1910. Although the economy and the industry quickly recovered, GM’s bankers forced founder Billy Durant’s exit and assumed management control of the company in exchange for providing new loans to keep it afloat.

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