History of General Motors Departure (bearings); Delco Electronics and ACDelco (electrical and electronic components); GMAC (finance); General Aviation and North American Aviation (airplanes); GM Defense (military vehicles) and Electronic Data Systems (information technology). General Motors was capitalized by William C. Durant on September 16, 1908 as a holding company. The next day it purchased Buick Motor Company, and rapidly acquired more than twenty companies including Oldsmobile, Cadillac, Oakland, now known as Pontiac, and McLaughlin of Canada. Dr. Campbell, Durant's son-in-law, put 1,000,000 shares on the stock market in Chicago Buick (then controlled by Durant). Durant's earlier company, the Durant-Dort Carriage Company, had been in
General Motors 2014 the NHTSA fined the company $35 million for failing to recall cars with faulty ignition switches for a decade, despite knowing there was a problem with the switches. General Motors paid compensation for 124 deaths linked to the faulty switches. The $35 million fine was the maximum the regulator could impose. General Motors has announced that they are also facing 79 customer lawsuits asking for as much as $10 billion for economic losses attributed to the recall. As well as the Cobalts, the switches of concern had been installed in many other cars, such as the Pontiac G5, the