The Fall of an Industrial Titan: General Motors Goes Bankrupt

It used to be said that “what’s good for General Motors is good for the country.” Not any more. The car company that muscled its way to becoming one of the largest manufacturers in the world filed for bankruptcy today. It’s the fourth largest bankruptcy in American history. After pouring billions of dollars into the failed company, how will the US government restructure GM, as it becomes the major stakeholder? Will the United Auto Workers union survive or be forced to merge with another union? What kind of cars will roll off the assembly line of a new, streamlined GM?