An I.P.O for a physical product is a refreshing change from the Tech 2.0 bubble we’ve been subjected to lately. Allison Transmission, formerly of General Motors, just issued their first I.P.O, raising $600 million for the company. Allison is now valued at $4.2 billion.
GM has built some great vehicles in its day, but nothing can top their buses. They literally owned the bus market from the forties through the seventies, but they earned that spot with superior technology and quality construction. One of the most brilliant and enduring examples of that is the “New Look” transit bus that came out in 1959, and revolutionized the field with advanced stress-skin aluminum construction and absolutely indestructible build quality. These buses are still on the road in transit duty fifty years after they first saw the light of day. A variation of this bus (the Classic) was still being produced by MCI until 1997. Given that this pictured bus was built about the same time as the 1978 Cadillac Eldorado in our last Curbside Classic, we have here a study in GM contrasts. Of course, even GM’s bus business eventually ended badly in its inimitable way. (Read More…)