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 Canada 15 years. McLaughlin fitted the power trains to running gear, bodies and chassis built by McLaughlin in Canada. The cars were branded McLaughlin until the end of the contract. McLaughlin-Buick was the brand between 1923 and 1942. In 1908 Durant and McLaughlin started General Motors Holding Company after Durant exchanged $500,000 of Buick stock for $500,000 of McLaughlin Motor Co. stock. McLaughlin also exchanged his Buick stock for General Motors stock, and in 1910 was invited to be on the board of General Motors in Detroit. In 1915 McLaughlin acquired the Chevrolet Car Company of Canada, which built Chevrolets in