General Motors : An American Success Story Essay
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…