Table of Contents

"Acknowledgments xi A Note on Sources and Permissions xiii Introduction: What They Wrought xv 1 1920: The Fateful Year 1 America and the General on a Roll Losing a Man Named Chrysler The Eve of Showdown 2 A Precocious Dropout Forges His First Empire 17 A Hands-On Education Sins of the Fathers Just a Short Ride Across Town Selling Billy Durant, Then Selling the Product A Bitter Lesson in Production Control From Start-Up to Industry Leader 3 A Quiet Student Becomes a First-Class Supplier 37 Staying on Message A Most Serious Young Man Early Risk and Turnaround Seeing a New Market 4 A New Machine Creates a New Order 51 An Ancient Idea Slowly Takes Hold Enter Ransom Olds Leland, Master of Precision Henry Ford and His Demons Leland Is in, Cadillac Is Born Alfred Meets Henry ... and Henry Rises Again 5 Restless in Flint, Antsy in New York 77 The Good Life in Flint Spared the Strife ... for the Time Being A Different Routine for Billy's Executive Team A Hardy Man Takes the Plunge Without Billy Billy Takes a Sabbatical David Buick Takes His Shot Enter the Briscoe Boys and Whiting of Flint 6 The Dropout's Next Big Thing 93 Making It a Go Another Industry Precedent, and an Early Jab from Alfred Billy Finds a New Flame Buick Triumphant No Legacy for David A Shakeout on the Horizon 7 Birth of a General 109 A Hyatt Customer Prepares to Shift into High Gear Henry Ford's Different Product Strategy Billy Takes Another Call Billy Brings the Big Four Together ... Henry Ford Kills Morgan's Big Deal Billy Cuts His Own Deal No Headlines for Billy's Newborn 8 Shooting for the Stars 129 Putting the House of Olds in Order by Cutting the Baby in Quarters Cadillac Makes Itself the World Standard ... Despite Slumping Sales Wooing the Lelands One More Run at Henry Ford The Great Race ... and More Great Opportunities A Whirling Dervish Unconstrained 9 Down but Hardly Out 147 Billy Says Goodbye ... for Now A Case of Conspiracy or Prudence? Henry Pulls Away ... and Brings America with Him Heady but Precarious Days for Sloan the Supplier The Bankers Turn to James Storrow, Brahmin Billy Champions a Former Protege Every Executive Recruiter's Dream Candidate: Walter Chrysler The Bankers' Bottom Line Enter Kettering with His Self-Starter The Bankers' Philosophy vs. Henry Ford's 10 Beating the Odds with Chevrolet 169 Taking on the Model T ... Slowly A Different Way to Build Brand Awareness and Community Relations Finally, the Long-Awaited Hit Henry Again Changes the Game The Guardian from Delaware and His Right Hand 11 A Boardroom Coup Like None Before or Since 187 The Mother of All Proxy Battles Another Clash of Philosophies: Pierre vs. Billy on Corporate Governance Cementing the Base: Step One, Locking in Chrysler Step Two, Luring Alfred into the Fold Alfred Moves Up with Billy 12 The Founder's Grip Slips Again 205 Henry Ford's Plunge into Pacifism, Politics, and Prejudice Billy Durant vs. the Lelands Good Times on the New Jersey Shore, but Not on Wall Street The Wizard Gambles Again ... and Dilutes His Power 13 A Last Good-Bye to the Baby 221 Prelude to the Crisis General Motors' Response vs. Ford Motor's The Founder Has His Own Doubts as His Leadership Team Remains Mute Done in by the Street ... Again Billy Does Right by His Baby The End of an Era 14 Alfred Pulls the Ranks Together 237 Pierre Comes Out from Behind the Curtain Kettering's Copper-Cooled Engine From Standoff to Near Meltdown Defying the Consultants to Save Chevrolet Decentralized Operations with Coordinated Control Henry Ford Misses a Sea Change in the Market A Car for Every Purse and Purpose 15 From Transformation to Domination 253 A New Paradigm for Product Design The Annual Model Change Beyond the United States Nonautomotive Forays and Legacies Financial (and Other) Controls Attracting, Developing, and Holding the Best Talent at All Levels Unrest in the Ranks Politicians and Executives Don't Mix The Finest Hour: General Motors Goes to War for America The Sloan Philosophy and Legacy of Winning Epilogue: What's Good for General Motors ... 273 Chronology of Key Events 281 Notes 285 Selected Bibliography 297 Index 303 About the Author 315"

About the Author

William Pelfrey spent 15 years at General Motors Corp., most recently as Director of Executive Communications. A former journalist, he reported from Vietnam, Appalachia, and Pakistan for The New York Times, Atlantic Monthly and The New Republic.

Reviews

..".easy to read and extremely well researched." -World Business Review

"entertaining and instructive... masterfully tells about GM's past and... helps explain what recently went wrong at the company." -Washington Post

"Business Times (New Haven, CT): ""Through the lens of history at its most gripping, this book reveals why American business needs both intuitive, risk-taking Billys and logical, bottom-line conscious Alfreds."" ForeWord: ""The author tells an amazing story, previously largely untold...this is an illuminating, yet little known saga of the clash between eternal dreamers, inventors, tinkerers, and salesmen at the dawn of the twentieth century."""

"Pelfrey's work is both entertaining and instructive...[the] book does not predict GM's future. But it masterfully tells about GM's past and, in doing so, helps explain what recently went wrong at the company." -Washington Post

"This fresh look at early GM is timely and interesting." -Corp! (Detroit)

..".easy to read and extremely well researched." -"World Business Review"

"Business Times (New Haven, CT): ""Through the lens of history at its most gripping, this book reveals why American business needs both intuitive, risk-taking Billys and logical, bottom-line conscious Alfreds."" ForeWord: ""The author tells an amazing story, previously largely untold...this is an illuminating, yet little known saga of the clash between eternal dreamers, inventors, tinkerers, and salesmen at the dawn of the twentieth century."""

."..easy to read and extremely well researched." -"World Business Review"

"entertaining and instructive... masterfully tells about GM's past and... helps explain what recently went wrong at the company." -"Washington Post"

"Pelfrey's work is both entertaining and instructive...[the] book does not predict GM's future. But it masterfully tells about GM's past and, in doing so, helps explain what recently went wrong at the company." -"Washington Post"

"This fresh look at early GM is timely and interesting." -"Corp!" (Detroit)

“…easy to read and extremely well researched.” -"World Business Review"

“entertaining and instructive… masterfully tells about GM's past and... helps explain what recently went wrong at the company.” -"Washington Post"

“Pelfrey's work is both entertaining and instructive...[the] book does not predict GM's future. But it masterfully tells about GM's past and, in doing so, helps explain what recently went wrong at the company.” -"Washington Post"

“This fresh look at early GM is timely and interesting.” -"Corp!" (Detroit)

"Business Times (New Haven, CT): ""Through the lens of history at its most gripping, this book reveals why American business needs both intuitive, risk-taking Billys and logical, bottom-line conscious Alfreds."" ForeWord: ""The author tells an amazing story, previously largely untold...this is an illuminating, yet little known saga of the clash between eternal dreamers, inventors, tinkerers, and salesmen at the dawn of the twentieth century."""

.,."easy to read and extremely well researched." -"World Business Review"

"entertaining and instructive... masterfully tells about GM's past and... helps explain what recently went wrong at the company." -"Washington Post"

"Business Times (New Haven, CT): ""Through the lens of history at its most gripping, this book reveals why American business needs both intuitive, risk-taking Billys and logical, bottom-line conscious Alfreds."" ForeWord: ""The author tells an amazing story, previously largely untold...this is an illuminating, yet little known saga of the clash between eternal dreamers, inventors, tinkerers, and salesmen at the dawn of the twentieth century."""

"Pelfrey's work is both entertaining and instructive...[the] book does not predict GM's future. But it masterfully tells about GM's past and, in doing so, helps explain what recently went wrong at the company." -"Washington Post"

"This fresh look at early GM is timely and interesting." -"Corp!" (Detroit)