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PAGE 20, WH1TBY FREE PRESS, WE DNESD ,AY, OcTOBEI 119 1989 by Jil Mclntosh How would you descibe a formula for success? How about a hair oil salesman, a factory fire, a bathtub king and a Civil War riflemaker? It sounds like the makings of a Hollywood B-movie, but it was exactly part of the recipe for General Motors. GM turned 81 last month, having been incorporated on September 16, 1908 in new Jersey; at the last minute, the name was changed from International Motors." The hair oil salesman was William Crapo Durant, better know as "Billy" to bis friende -- although history records that he really cidn't have too many of those. Giving up bis patent medicine business, Durant formed the Dort-Duran Company, a coaehbuilding firm that used a variety of producers and suppliers. He would later use the same systemr at General Motors. The factory fire was a spectacular blaze that seemed at first a disaster, but later proved to be the only tbing that saved Oldsmobile. Named after founder Ransom Eli Olds, the company started out in 1897 building large and expensive vehicles. Many were electric models, popular with female drivers who had difficulty cranIng gasoline cars te start them. Sales at Oldsmobile weren't too brisk and it looked like the firm was heading inito bankruptcy. In 1901, fire completely destroyed the factory and all of the cars and building plans inside. Only one car was pushed te, safety (by timekeeper James Brady, late mayor of Detroit). The partially burned vebicle was an experimental, inexpensive motorized buggy. It was ail they had te go on, se the company concentrated ail of their efforts inte the one-cylinder car. Its upswept front end earned it the name "Ourved Dash Olds" and its Iow pricetag heiped it te become American's tep-selling car, a record it held for almost a decade until the Model T sbowed up. Oldsmobile sold out to Biily Durant in November of 1909. Durant boasted that he paid $3 million for the firm, but since most of the payment was in stocks and assumed debts, the actuai cash outlay was only $17,000. Ransom Olds formed a new company, Reo, nanied after bis initiais. Reos, were beautiful cars, but the Depression brought an end te them. The trucks were a bit more successful (REO Speedwagon was reaily a vehicle, flot just a rock group!) and flnally merged with White Trucks.,, The bathtub king was flavid Dunbar Buick, who discovered the method for afffixing porcelain te metal -- thus making modern bathtubs possible. Once he got into building cars, Buick belped te develop the valve-in-bead engine, now used exclusively by autemakers. He býIit good cars, but he wasn't much. of a salesmnan; in 1904, when Olds turned out more than 12,000 cars, Buick built 37. He aiso wasn't much of a M~anager, and bis company was a nost down the tubes when .Ilirant showed up. He made I~l ons from the sale, and lost it aIý just as quickly in real estate. Svera other ventures were uiýsuccessffiul as weil. and the SEE PAGE 23 DENNIS THOMAS of. Whitby one week. The draws. are held as recently won one of the weekly p art of the United Way campaign by draws for General Motors employees G M. and was given a new car to drive for Free Proe photo No>-fault -plan generally favored by insuranoe firmsEi Plans by the Ontario govern- ment to introduce no-fault in- surance would keep money in the pockets of drivers and not lawyers, says Roy Cooper of Towne and County Insurance of Whitby. "'Riglit now only 38 cents of every dollar goes to drivers while the rest goes to, lawyers and the courts," said Cooper, adding that the insurancÀ industry is generally in favor of no-fault wbile lawyers are opposed. Under the system to be intro- duced in April, 1990, accident victims wouid automatically receive beneflits regardless of whetber tbey caused the acci- dent. (Under the existing system, people hurt in car accidents receive $140 maximum a week in weekly income replacement and $25,000 for medical and rehabili- tation costs.) In exchange for the higher and quicker compensation, a driver's right to sue is either restricted or eliminated. Where fault can be demonstra- ted, the right to sue will be maintained for death, permanent serious disfigurement or per- manent serious impairment of body functions. T he plan also includes a quicker delivery of payment, with benefits to be paid within 10 to 30 days, depending on the size of the benefit. "This may be a good program but we need more information," said David Meadwell of Vick Insurance of Whitby. "If it gets tbe money to people quicker it will be a good plan," said Meadwell. He said the increase in bene- fits to $450 a week from $140 is a step In the rigbt direction. "The insurance companies are hoping the costs will be reduced enoug or them to m ake a pro- fit,"» said Meadwell, noting that insurance companies are payin g out $1.15 to $1.20 for every $1 thç are taking in. ReOntario government bas also indicated tbe new plan will see insurance premiums rise approximately eigbt per cent in tbe first year in urban areas while rural residents will see no SE EPA GE 29 "I tre"Don't face'witer wiMthout 2a Winftor check- Up. 26d POINT FALL CHECKUP:caurnng ai Rabbit, JettaI Fox.,Golf ,-~--i1'and~\ Scirocco owners. .- WEILL GET YOU READY FOR WNE Ex perience the Owasco feeling. I's been proven sincE ver 5 competitively priced late models plus rental service for your convenience. A - I i%.. Ai ué1- ~-oe are and O. M.L. Service A ward Wt OwascoVolkswagen Imc. 1425 Dundas St. E., Whitby 668-9383 Ajax, Plckerlng, Toronto, 683-3235, Toli Free 1-800-263-2676 35 minutes f rom Downtown Toronto ,e 1972. ýls and finner $7 9 (SUME VARIANCES MAY APPLY) HWV .j a