General Motors : An American Success Story Essay

828 Words Sep 19th, 2015 4 Pages
General Motors is an American success story. They started at the dawn of the 20th century, with a humble origin story; Buick began with horse drawn buggies, before starting its foray into the automobile market. For years it grew and expanded gobbling up smaller companies and incorporating them into its family. Just under one hundred years later, the state of General Motors’ empire started to deteriorate (which is directly due to a criminal lack of quality control).
Then the housing bubble popped. The company was bleeding from every orifice. It decided to do the most capitalistic thing humanly possible, in the least laissez-faire way possible. It saved itself by killing the business’s struggling brands; and stacking their carcases into a stairway to fiscal flexibility… though that required accepting government money (shudders).
In 2009 GM was saved by the cheekiest bankruptcy in corporate history, and millions and millions of monies from the federal government. For those unfamiliar with the event, in the bankruptcy GM split into two companies. One became Liquidation Motors Company, and the other is the New GM people currently know and love. The first became a scapegoat for all the issues General Motors Corporation had, while the latter was an accumulation of lucrative assets.
Barely four years (and close to $25 billion in profits) after accepting government money, General Motors is in hot water once again; facing a criminal indictment (that stemmed from actions taken more…

Related Documents