Today in history - 1909

Cadillac Motor Company was acquired by the Buick Motor Company on behalf of General Motors for $4.5 million. Cadillac was born from the ashes of the Henry Ford Company, a business organized by William Murphy to produce a car by Henry Ford. Murphy had been one of the original backers of the Detroit Automobile Company, which had dissolved in 1901 after Ford had failed to build a car he was willing to put to market. Such faith did Murphy have in Ford that he gave him another chance in the Henry Ford Company, opting to use Ford's name due to the recognition he had received from his recent racing ventures. Ford was so wrapped up in racing that he again failed to produce, and Murphy fired him. The rest, as they say, is history.