History of Chrysler GMAC for Chrysler, potentially merging two of Detroit's "Big Three" automakers. These talks did not come to fruition, and were discontinued the next month. On October 24, 2008, Chrysler announced a 25% cut (5,000 jobs) in its salaried and contract workforce in November 2008. Michigan Gov. Jennifer Granholm announced that she, along with 5 other governors, sent a letter to Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke requesting emergency funding for the Detroit Big Three Automakers. On the same day, General Motors asked the Treasury Department of the United States for $10 billion to help restructure both
History of General Motors Chevrolet Motor Company in 1911 with Louis Chevrolet. R S McLaughlin in 1915 built Chevrolet in Canada and after a stock buy back campaign with the McLaughlin and DuPont corporations, and other Chevrolet stock holders, he returned to head GM in 1916, as Chevrolet owned 54.5% with the backing of Pierre S. du Pont. On October 13 of the same year, GM Company incorporated as General Motors Corporation after McLaughlin merged his companies and sold his Chevrolet stock to allow the incorporation, which in turn followed the incorporation of General Motors of Canada (reverting to General Motors Company upon emergence