Welcome Home, {{first_name|default:Michigander}}!
A quick update on the October product launch I mentioned a few weeks ago: it is officially under two weeks away!
Mark your calendar for Friday, October 2nd—that’s the day newsletter subscribers get exclusive early access before the public launch on October 5th. I’m putting the finishing touches on everything now and can’t wait for you to see it!
In the meantime, please enjoy this week’s Michigan History Digest and don’t forget to test your knowledge with our MI Trivia question at the end. The answer may surprise you!
MI Moments 🎬
💰 Henry Ford Agreed to Sell Ford to GM
In 1909, Henry Ford agreed to sell Ford Motor Company to General Motors founder William C. Durant for $8,000,000.
Though GM had been incorporated in September 1908, it was on track to acquire 20 companies, including rivals Oldsmobile and Cadillac.
The deal collapsed when hesitant bankers refused to loan Durant the upfront cash payment of $2,000,000 needed to close the transaction.
Ousted from GM 1 year later over debt, Durant founded Chevrolet in 1911 and used its profits to buy back control of GM in 1916.
Bonus History: The deal included $2 million cash upfront, $2 million in GM stock, and the remaining $4 million paid over 3 years with 5% interest. Ford refused an all GM stock deal as he was skeptical of GM's financial stability.
Despite the deal falling through and Durant losing control of General Motors twice (1910 & 1920), Durant's original multi-brand strategy enabled GM to surpass Ford in total sales by 1927.
By 1931, the corporation he built became the largest automobile manufacturer in the world, maintaining that global leadership position continuously until 2007.
MI Photo 📸
A Compelling 1923 Chevrolet Advertisement
Advertisement printed in the February 1923 issue of The Elks Magazine
MI Spotlight 🔎
Sloan Museum of Discovery
Named in honor of longtime General Motors CEO Alfred P. Sloan, this Flint institution sits at the historical center of Michigan’s automotive empire where Buick, Chevrolet, and GM were forged.
Today, visitors can walk through four expansive interactive galleries, including an 11,000-square-foot vehicle hall dedicated to Flint's industrial transformation from horse-drawn carriages to world-changing automobiles.
Highlights from its historic vehicle collection include the 112th hand-built 1953 Chevrolet Corvette convertible, the futuristic bubble-topped 1956 Buick Centurion concept car, and a World War II Hellcat tank destroyer.
Location: Flint
Plan your visit: Sloan Museum of Discovery
MI Trivia 🤔
In 1927, General Motors' Chevrolet brand dethroned Ford as America's top-selling automaker for the first time in history after Henry Ford temporarily shut down assembly lines to retool, ending production of the iconic Model T at what production milestone?
Tip: Click or tap on your guess to see if you got it right!
P.S. You can leave us any feedback you may have after making your guess or by replying to this email.
Until next week, thank you for reading Michigan History Digest.
— Zac, Creator of Welcome Home History
