Staff Person: Dale Sauter
General Motors Corporation (GMC) has flourished throughout much of its history as a major American automobile manufacturer. Considered “one of the big three,” alongside Ford and Chrysler, GMC was created in 1908. The great Wall Street crash in 1929 put a quick halt to all expansion plans for GMC, as its stock price quickly fell. In 1930, GMC bought Electro-Motive Corporation, the internal combustion engine railcar builder. For several years to come, GMC-powered diesel locomotives were heavily used on American railroads. During the early 1930′s GMC continued its recovery and bought the Yellow Coach Bus Company. In 1955 GMC became the first company to make more than a billion dollars in one year. At one time GMC was also the largest corporation in the United States and the single largest employer in the world. However, in 2005 GMC posted a loss of $4 billion, laid off approximately 30,000 employees, and closed 12 plants. GMC largely flourished as a company for nearly a century before officially declaring bankruptcy in June 2009.
Today’s staff pick offers a glimpse into the golden age of GMC. This is a foldout brochure poster advertising GMC’s line of work trucks for 1956. The brochure was sent from Craven Motor Co., Inc. in New Bern, N.C. to Barbour Boat Works (also in New Bern).
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