Demise of General Motors
I have seen this coming even few years back. Back then, reading some of the great biographies and books on General Motors (GM), I can tell the
end of General Motors is coming, but only the question "when?".
This is not a surprising issue, it's nothing new either. But it does tell a story of arrogance and naiveness in its strategies along the years by great Fortune 500 companies, which was once giant company that earnings could buy up a few small third world countries.
Doubled with the worsening global economy, would there be more of bankruptcy, like GM, to come? The marketing books we learnt in school, the image of trustworthy American firms are shaken by the reality of the current situation.
A century-old company ending in such a hasty manner. It's sad indeed. It's a great sadness, anger and frustration, not only to the loyal customers of General Motors, the employees, the shareholders, the normal Americans who viewed General Motors the Hero and Pride of America. All is lost but the memories of the Americans and the rest of the world.
May GM rest in peace...