Benz's Gasmotoren-Fabrik Mannheim (1882–1883)
Problems arose again when the banks at Mannheim demanded that Bertha and Karl Benz's enterprise be incorporated due to the high production costs it maintained. The Benzes were forced to improvise an association with photographer Emil Bühler and his brother (a cheese merchant), in order to get additional bank support. The company became the joint-stock company Gasmotoren Fabrik Mannheim in 1882.
After all the necessary incorporation agreements, Benz was unhappy because he was left with merely five percent of the shares and a modest position as director. Worst of all, his ideas weren't considered when designing new products, so he withdrew from that corporation just one year later, in 1883.
Read more about this topic: Karl Benz
Famous quotes containing the word mannheim:
“We went to Mannheim and attended a shivaree—otherwise an opera—the one called “Lohengrin.” The banging and slamming and booming and crashing were something beyond belief. The racking and pitiless pain of it remains stored up in my memory alongside the memory of the time that I had my teeth fixed.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)