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William Durant and Henry Ford

I just read a great book on Henry Ford's battle with the ALAM over the Selden Patent. (ALAM was the licensing group that tried to use the patent as a way to create a trust to dominate the auto industry.) The book mentioned that Durant initially joined ALAM, dropped out and then rejoined paying $1,000,000 in back royalties.

Of more interest was that in 1908 Durant convinced Henry to sell The Ford Motor Company to him for $8,000,000. However, Durant's bankers wouldn't loan him the money because they felt the company wasn't worth that much!

The book, by the way, is "Monopoly on Wheels" and is available through Amazon. Henry's dispute with patents is identical to the complaints we hear today from Silicon Valley.

Vince

Where Are You From? North of the Golden Gate

Do You own a car built by Durant? 1925 Star

Re: William Durant and Henry Ford

Hey Vince;
Interesting note is that Billy and Henry did negotiate the sale of Ford to Durant but at first could not agree. Billy, as he usually did with companies he wanted, offered part stock and some money, Ford didn't want any stock just money and that's when Durant had to go to his bankers. They still did not have faith in the motorcar and thought it was an unsure thing. Wouldn't give Billy the money so the deal feel through. It is reported that Ford did most of his negotiation laying on the floor on his back with a bad back at the time. Had to be an interesting view.

Where Are You From? Oviedo, Florida

Do You own a car built by Durant? Yes 1928 Durant Model 65 4 door sedan

 

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