General Motors, proclaimed by many to be a US Icon, finally declared bankruptcy (Chapter 11) the other day, opting to take an offer made by our government (along with others) to help financially “bail out”, repair and restructure the corporation to get it back up and running in a profitable manner. You can check out some of the details in this Wall Street Journal article here:
online.wsj.com/article/SB124385428627671889.html
The downfall of this company (that has been part of our American Culture since it's founding in 1908) is one that is filled with many different layers...it's so difficult to even begin to scrutinize.
Here's another article talking about the effects on local dealerships:
