Bankruptcy
Aug. 4, 2009
Learn From Britain's Mistake
Britain went through a routine similar to the one unfolding between the U.S. government and GM, only to wind up with no automotive industry of its own, writes Gideon Kanner.
FORUM COLUMN
By Gideon Kanner The deal is done. General Motors, once the jewel in America's industrial crown, has gone bankrupt. New United Motor Manufacturing Inc., or NUMMI, its joint venture with Toyota, has been shut down, the Pontiac division is being liquidated, the Hummer and Saturn divisions have been sold off. From the ashes - goes the plan - a new government-controlled General Motors will rise to compete with its foreign rivals who, so f...For only $95 a month (the price of 2 article purchases)
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