David Dunbar Buick (1854-1929) was a Scottish born American inventor and businessman who founded the Buick Motor Company in Detroit, which he led from 1899 to 1906. Before entering the automobile business he worked in plumbing supply manufacturing, where he developed a process for bonding vitreous enamel to cast iron. At his automobile company he helped develop the overhead valve, or valve in head, engine, a design that delivered more power than the side valve engines common at the time and became a lasting influence on later engine construction. Buick lost control of the company that carried his name after 1906 and, after a series of unsuccessful ventures, died in relative poverty in 1929, even as the Buick brand he founded went on to become one of the most enduring names in American automotive history.
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Why did David Dunbar Buick leave the company that carries his name?
He ran short of money while focused on development, and in 1906 accepted a severance package and sold his last share.
Buick put his effort into research and development at the expense of manufacturing and sales, and by early 1902 he had used up his capital while producing only a single car. A 1903 loan of 5,000 dollars from Benjamin Briscoe let him form the Buick Motor Company. In 1906 he accepted a severance package and left, keeping only one share of the company, which then president William C. Durant bought from him for 100,000 dollars.
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Sources
1. David Dunbar Buick (Wikipedia)
Lead, birth/death parenthetical
1854-1929
Lead, opening sentence
Scottish-born American inventor and entrepreneur
In Group: Automobile Company Founders and Executives, Lead sentence
David Dunbar Buick (September 17, 1854, March 5, 1929) was a Scottish-born American inventor, widely known for founding the Buick Motor Company.
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