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...Rocks. Far from restraining G.M., Du Pont was one good reason why G.M. grew; without the stock purchase there would quite likely have been...
...businessman seriously believes that Du Pont bought into General Motors merely to wrap up a market for paint. Although the Supreme Court ruled that by its working control of G.M., Du Pont had been able to force its products on the automaker (specifically that Du Pont had supplied General Motors with about 67% of its paint and finish supplies, between 38% and 52% of its textile requirements in the years 1946 and 1947), the two items together make up only about 2% (or $20) of an auto's total cost. Du Font's total G.M. business amounted...
General Motors in existence today. When Du Pont took control during the post-World War I depression, the young auto giant was headed for the rocks. Brilliant, mercurial William Crapo Durant, who put the company together, was $80 million in debt and on the verge of bankruptcy. Du Pont had already put $49 million into the company's stock. By risking another $31 million of its capital, Du Pont bailed out Durant and put the company back on course, not only with cash, but also with managerial talent. Du Pont President Pierre S. du Pont, who had been actively...
...grown stronger over the years, Du Pont has steadily loosened its ties to the automaker. In recent years Du Pont's role has been largely confined to helping set overall policy, chiefly financial. Only six of G.M.'s 33 directors are usually identifiable as being in the Du Pont faction-Donaldson Brown, Du Pont treasurer until he switched to G.M. in 1921, Lammot du Pont Copeland, Emile F. du Pont, Henry B. du Pont, Chairman Albert Bradley, Executive Vice President Frederic G. Donner. As in many another company, there have often been arguments between the financial...
Last week's decision of the Supreme Court will not cripple G.M. nor will it knock a dent in Du Pont's business. G.M. will probably keep right on buying from Du Pont so long as the price and product are right. What will hurt is the order to get rid of stock that pays a handsome $126 million annually in dividends. Through Christiana Securities Co., Delaware Realty & Investment Co. and individual stockholdings, the Du Pont family owns 28% of Du Pont itself, and in turn some 18 million shares of General Motors stock worth $756 million...