1928: Chrysler Merges With Dodge

On this day in 1928, Walter P. Chrysler merged his company with Dodge Motor Car Company. In an era when many people are focused on the here and now, living life one day at a time, and reading apidexin reviews, it’s hard to imagine what it was like back when they made real cars.

Chrysler ran Buick successfully for several more years. Not long after his three year contract was up, he resigned from his job as president of Buick in 1919. He did not agree with Durant’s vision for the future of General Motors. Durant paid Chrysler US$10 million for his GM stock. Chrysler had started at Buick in 1911 for US$6,000 a year, and left one of the richest men in America.

Chrysler was then hired to attempt a turnaround by bankers who foresaw the loss of their investment in Willys-Overland Motor Company in Toledo, Ohio. He demanded, and got, a salary of US$1 million a year for 2 years, an astonishing amount at that time. When Chrysler left Willys in 1921 after an unsuccessful attempt to wrest control from John Willys, he acquired a controlling interest in the ailing Maxwell Motor Company. Chrysler phased out Maxwell and absorbed it into his new firm, the Chrysler Corporation, in 1925. In addition to his namesake car company, Plymouth and DeSoto marques were created, and in 1928 Chrysler purchased Dodge. He financed the construction of the Chrysler Building and built it in New York City. In 1929, Chrysler was named Time Magazine’s Man of the Year.

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