On June 1, 2009, the impossible became reality. General Motors, a fixture in America for more than 8 decades, filed for bankruptcy. Just a few years ago the thought alone would've drawn laughter, head shaking, and even calls that the speaker was missing some brain cells. But, today, it became a all too sad reality.
How did this happen?
Well, it was a long process by everyone involved at GM. The people chosen to run the company messed it up. The financial dealings they did hurt it in the long run. There was just no way that they could expect to survive a economic downturn. They can't say they couldn't seen this coming. We have downturns every decade or so. They dropped the ball there.
How about the cars they designed? A lot of them were not good cars. Ugly, impractical, and just not what the American people wanted. They just didn't cater to the people that would be buying them.
Then there's the UAW. For so long they just wanted more and more. How many times did their greed hold GM hostage? Remember 1998? Even suppliers went down for that one. The legacy costs just killed GM.
It was a combined effort of EVERYONE involved that brought down the General.
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