The abbreviation for Bmw is "Bayrische Motorenwerke", Which is German for Bavarian Motor Factory. Bmw's first work was the BMW AG which was a aircraft engine supplied to the Hapsburg empire. The AG came out in August of 1918. The blue and white parts symbolize the sky, seen through moving propeller blades.
^^^ My bad i didnt see the first page, HAHAHA.