Billy, Alfred, and General Motors: The Story of Two Unique Men, a Legendary Company, and a Remarkable Time in American History PDF
Preview Billy, Alfred, and General Motors: The Story of Two Unique Men, a Legendary Company, and a Remarkable Time in American History
BILLY, ALFRED, AND GENERAL MOTORS .................15670$ $$FM 01-16-0613:55:39 PS PAGEi .................15670$ $$FM 01-16-0613:55:40 PS PAGEii BILLY, ALFRED, A N D GENERAL MOTORS THE STORY OF TWO UNIQUE MEN, A LEGENDARY COMPANY, AND A REMARKABLE TIME IN AMERICAN HISTORY William Pelfrey AMERICAN MANAGEMENT ASSOCIATION NewYork ■ Atlanta ■ Brussels ■ Chicago ■ MexicoCity ■ SanFrancisco Shanghai ■ Tokyo ■ Toronto ■ Washington,D.C. .................15670$ $$FM 01-16-0613:55:41 PS PAGEiii SpecialdiscountsonbulkquantitiesofAMACOMbooksare availabletocorporations,professionalassociations,andother organizations.Fordetails,contactSpecialSalesDepartment, AMACOM,adivisionofAmericanManagementAssociation, 1601Broadway,NewYork,NY10019. Tel.:212-903-8316.Fax:212-903-8083. Website:www.amacombooks.org Thispublicationisdesignedtoprovideaccurateandauthoritative informationinregardtothesubjectmattercovered.Itissoldwiththe understandingthatthepublisherisnotengagedinrenderinglegal, accounting,orotherprofessionalservice.Iflegaladviceorother expertassistanceisrequired,theservicesofacompetentprofessional personshouldbesought. RollsRoyceisaregisteredtrademarkexclusivelylicensedtoRolls- RoyceMotorCarsLtd. LibraryofCongressCataloging-in-PublicationData Pelfrey,William. Billy,Alfred,andGeneralMotors:thestoryoftwouniquemen,a legendarycompany,andaremarkabletimeinAmericanhistory/ WilliamPelfrey. p. cm. Includesbibliographicalreferencesandindex. ISBN0-8144-0869-9 1. GeneralMotorsCorporation—History. 2. Automobileindustryand trade—UnitedStates—History. 3. Businesspeople—UnitedStates— Biography. 4. Durant,WilliamCrapo,1861–1947. 5. Sloan,AlfredP. (AlfredPritchard),1875–1966. I. Title. HD9710.U54G47544 2006 338.7(cid:2)6292(cid:2)—dc22 2005024657 (cid:2)2006WilliamPelfrey. Allrightsreserved. PrintedintheUnitedStatesofAmerica. Thispublicationmaynotbereproduced, storedinaretrievalsystem, ortransmittedinwholeorinpart, inanyformorbyanymeans,electronic, mechanical,photocopying,recording,orotherwise, withoutthepriorwrittenpermissionofAMACOM, adivisionofAmericanManagementAssociation, 1601Broadway,NewYork,NY10019. Printingnumber 10 9 8 7 6 5 4 3 2 1 .................15670$ $$FM 01-16-0613:55:41 PS PAGEiv ForLilia,myBeliever .................15670$ $$FM 01-16-0613:55:41 PS PAGEv .................15670$ $$FM 01-16-0613:55:41 PS PAGEvi C O N T E N T S Acknowledgments xi ANoteonSourcesandPermissions xiii Introduction:WhatTheyWrought xv 1 1920:TheFatefulYear 1 AmericaandtheGeneralonaRoll ■ LosingaManNamedChrysler ■ The EveofShowdown 2 APrecociousDropoutForgesHisFirstEmpire 17 AHands-OnEducation ■ SinsoftheFathers ■ JustaShortRideAcross Town ■ SellingBillyDurant,ThenSellingtheProduct ■ ABitterLessonin ProductionControl ■ FromStart-UptoIndustryLeader 3 AQuietStudentBecomesaFirst-ClassSupplier 37 StayingonMessage ■ AMostSeriousYoungMan ■ EarlyRiskand Turnaround ■ SeeingaNewMarket 4 ANewMachineCreatesaNewOrder 51 AnAncientIdeaSlowlyTakesHold ■ EnterRansomOlds ■ Leland,Master ofPrecision ■ HenryFordandHisDemons ■ LelandIsin,CadillacIs Born ■ AlfredMeetsHenry...andHenryRisesAgain 5 RestlessinFlint,AntsyinNewYork 77 TheGoodLifeinFlint ■ SparedtheStrife...fortheTimeBeing ■ A DifferentRoutineforBilly’sExecutiveTeam ■ AHardyManTakesthe PlungeWithoutBilly ■ BillyTakesaSabbatical ■ DavidBuickTakesHis Shot ■ EntertheBriscoeBoysandWhitingofFlint 6 TheDropout’sNextBigThing 93 MakingItaGo ■ AnotherIndustryPrecedent,andanEarlyJabfrom Alfred ■ BillyFindsaNewFlame ■ BuickTriumphant ■ NoLegacyfor David ■ AShakeoutontheHorizon 7 BirthofaGeneral 109 AHyattCustomerPreparestoShiftintoHighGear ■ HenryFord’sDifferent ProductStrategy ■ BillyTakesAnotherCall ■ BillyBringstheBigFour vii .................15670$ CNTS 01-16-0611:20:57 PS PAGEvii viii Contents Together... ■ HenryFordKillsMorgan’sBigDeal ■ BillyCutsHisOwn Deal ■ NoHeadlinesforBilly’sNewborn 8 ShootingfortheStars 129 PuttingtheHouseofOldsinOrderbyCuttingtheBabyinQuarters ■ CadillacMakesItselftheWorldStandard...DespiteSlumpingSales ■ WooingtheLelands ■ OneMoreRunatHenryFord ■ TheGreatRace... andMoreGreatOpportunities ■ AWhirlingDervishUnconstrained 9 DownbutHardlyOut 147 BillySaysGoodbye...forNow ■ ACaseofConspiracyorPrudence? ■ HenryPullsAway...andBringsAmericawithHim ■ HeadybutPrecarious DaysforSloantheSupplier ■ TheBankersTurntoJamesStorrow, Brahmin ■ BillyChampionsaFormerProte´ge´ ■ EveryExecutive Recruiter’sDreamCandidate:WalterChrysler ■ TheBankers’Bottom Line ■ EnterKetteringwithHisSelf-Starter ■ TheBankers’Philosophyvs. HenryFord’s 10 BeatingtheOddswithChevrolet 169 TakingontheModelT...Slowly ■ ADifferentWaytoBuildBrand AwarenessandCommunityRelations ■ Finally,theLong-AwaitedHit ■ HenryAgainChangestheGame ■ TheGuardianfromDelawareandHis RightHand 11 ABoardroomCoupLikeNoneBeforeorSince 187 TheMotherofAllProxyBattles ■ AnotherClashofPhilosophies:Pierrevs. BillyonCorporateGovernance ■ CementingtheBase:StepOne,Locking inChrysler ■ StepTwo,LuringAlfredintotheFold ■ AlfredMovesUpwith Billy 12 TheFounder’sGripSlipsAgain 205 HenryFord’sPlungeintoPacifism,Politics,andPrejudice ■ BillyDurantvs. theLelands ■ GoodTimesontheNewJerseyShore,butNotonWall Street ■ TheWizardGamblesAgain...andDilutesHisPower 13 ALastGood-ByetotheBaby 221 PreludetotheCrisis ■ GeneralMotors’Responsevs.FordMotor’s ■ The FounderHasHisOwnDoubtsasHisLeadershipTeamRemainsMute ■ DoneinbytheStreet...Again ■ BillyDoesRightbyHisBaby ■ TheEnd ofanEra .................15670$ CNTS 01-16-0611:20:57 PS PAGEviii Contents ix 14 AlfredPullstheRanksTogether 237 PierreComesOutfromBehindtheCurtain ■ Kettering’sCopper-Cooled Engine ■ FromStandofftoNearMeltdown ■ DefyingtheConsultantsto SaveChevrolet ■ DecentralizedOperationswithCoordinatedControl ■ HenryFordMissesaSeaChangeintheMarket ■ ACarforEveryPurse andPurpose 15 FromTransformationtoDomination 253 ANewParadigmforProductDesign ■ TheAnnualModelChange ■ BeyondtheUnitedStates ■ NonautomotiveForaysandLegacies ■ Financial(andOther)Controls ■ Attracting,Developing,andHoldingthe BestTalentatAllLevels ■ UnrestintheRanks ■ PoliticiansandExecutives Don’tMix ■ TheFinestHour:GeneralMotorsGoestoWarforAmerica ■ TheSloanPhilosophyandLegacyofWinning Epilogue:What’sGoodforGeneralMotors... 273 ChronologyofKeyEvents 281 Notes 285 SelectedBibliography 297 Index 303 AbouttheAuthor 315 .................15670$ CNTS 01-16-0611:20:57 PS PAGEix
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