Chrysler's automotive career began in 1911 when he received a summons to meet with
James J. Storrow, a banker who was a director of
Alco. Storrow asked him if he had given any thought to automobile manufacture. Chrysler had been an auto enthusiast for over five years by then, and was very interested. Storrow arranged a meeting with
Charles W. Nash, then president of the
Buick Motor Company, who was looking for a smart production chief. Chrysler, who had resigned from many railroading jobs over the years, made his final resignation from railroading to become works manager (in charge of production) at Buick in
Flint, Michigan. He found many ways to reduce the costs of production, such as putting an end to finishing automobile undercarriages with the same luxurious quality of finish that the body warranted. In 1916,
William C. Durant, who founded
General Motors in 1908, had retaken GM from bankers who had taken over the company. Chrysler, who was closely tied to the bankers, submitted his resignation to Durant, then based in New York City. . Durant took the first train to Flint to make an attempt to keep Chrysler at the helm of Buick. Durant made the then-unheard of salary offer of $10,000 (equivalent to $ in ) a month for three years, with a $500,000 (equivalent to $ in ) bonus at the end of each year, or $500,000 (equivalent to $ in ) in stock. Additionally, Chrysler would report directly to Durant, and would have full run of Buick without interference from anyone. Apparently in shock, Chrysler asked Durant to repeat the offer, which he did. Chrysler immediately accepted. Chrysler ran Buick successfully for three 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 $10 million (equivalent to $ in ) for his GM stock. Chrysler had started at Buick in 1911 for $6,000 a year (equivalent to $ in ), and left one of the richest men in the United States. GM replaced Chrysler with
Harry H. Bassett a protege who had risen through the ranks at the Weston-Mott axle manufacturing company, by then a subsidiary of
Buick. 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 received a salary of $1 million (equivalent to $ in ) a year for two years, an astonishing amount at that time. When Chrysler left Willys in 1921 after an unsuccessful attempt to wrestle 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
Detroit, Michigan, in 1925. In addition to his namesake car company,
Plymouth and
DeSoto marques were created, and in 1928 Chrysler purchased Dodge Brothers and renamed it
Dodge. The same year he financed the construction of the
Chrysler Building in
New York City, which was completed in 1930. Chrysler was named
Time magazine's
Man of the Year for 1928. He was inducted into the
Automotive Hall of Fame in 1967. ==Later years==