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October 8, 1910 announcement of factory construction resuming at Buick after the bankers take over.
These plans were not exactly carried out as reported in this article from April 9, 1910 in The Wolverine Citizen. The new brass and aluminum foundry would actually be smaller and placed at the north end of the forge shop #03. The reason for the change was the recession of 1910, with William Durant finding his company over-extended by about 8 million dollars. “General Motors was almost dismantled less than two years after it’s creation”. The need for cash required bank loans, resulting in the bankers taking over, placing Durant as General Motors vice president. His wild building spree in regards to General Motors was over; “for now”. As historians know, Durant made a big comeback in 1916 after his creation of Chevrolet. I believe the main reason for his Chevrolet Co. succeeding so well was that the bankers had done away with the (low priced) model 10 Buick, leaving Durant’s new (low priced) Chevy to fill the void.