http://www.nytimes.com/2009/06/01/bu...o.html?_r=1&hpWASHINGTON — President Obama will push General Motors into bankruptcy protection on Monday, making a risky bet that by temporarily nationalizing the onetime icon of American capitalism, he can save at least a diminished automakerthat is competitive.
The bankruptcy, to be filed in New York, is a moment of reckoning for an industry that was once at the heart of the American economy. It culminates a remarkable four months of confrontation between Washington and Detroit that is expected to result in a drastic downsizing of the company.
Bad news for shareholders. I guess it was the only thing to do to save GM.
Next step: fire the marketing boss: it's not normal that GM sold less and less cars every year while Toyota or Volkswagen were conquering parts of the US market.