Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook

'Serpent Pastor' Dies of Snake Bite Mack Wolford believed faith compelled him to face the risk »

General Motors: How a Giant Fell

After decades of dominance, automaker blamed others for downfall

By Jason Farago, Newser Staff

Posted Jun 1, 2009 5:13 AM CDT

(Newser) – General Motors dominated the auto industry for much of the 20th century, and its downfall took place over decades. Many of the attributes GM once saw as strengths, from its rigid structure to its diverse range of vehicles, became liabilities as Japanese competitors sucked away... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

2 comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

'Serpent Pastor' Dies of Snake Bite

Miami Face-Eater Identified

New York Times (Source Grid »)

What the bankruptcy means for car owners
USA Today

In a new GM, remnants of the old one
Wall Street Journal

Money

bankruptcy • General Motors • Detroit • automaker • auto industry • Chapter 11

More Newser Stories

Done Deal: Fiat Buys Chrysler Assets

Administration triumphs as bankruptcy effectively ends

(NEWSER) - Chrysler finalized its sale of assets to Fiat with a government wire transfer this morning that gave Chrysler $6.6 billion in funds to exit bankruptcy, the New York Times reports. The sale is good news for the Obama administration, which sought an “efficient” restructuring for Chrysler. It may also provide a glimpse into the future of General Motors, also navigating bankruptcy. More»

Make Romney the Head of GM

Former Mass. governor could turn around automaker, says Bennet

(NEWSER) - Barack Obama wants to "take a hands-off approach" with General Motors, but as James Bennet writes in the Atlantic, there's no way to get the bankrupt automaker back into shape "without getting under the hood." GM needs someone who can "bring the hammer down" on its admittedly "able" CEO. It's time to appoint someone who brings an auto legacy and outsider's skepticism to the table: Mitt Romney. More»

GM Bankruptcy a Gold Rush ... for Lawyers

Most complex filing ever will net hundreds of millions in legal fees

(NEWSER) - GM's expected bankruptcy is bad news for thousands of auto workers, dealers and managers—but a bonanza for the lawyers and consultants orchestrating the most complicated Chapter 11 in history. Bankruptcy specialists who are already billing Chrysler, Lehman Brothers and the US government stand to make hundreds of millions of dollars from GM's restructuring, the New York Times reports. One firm representing GM billed Lehman $55 million for three months' work. More»

Done Deal: GM Out of Bankruptcy

Good assets go to US-backed firm

(NEWSER) - As of 6:30 this morning, the new General Motors is on its way: The old firm sold its good assets to a new automaker backed by the government via a bankruptcy overhaul far speedier than experts expected, the New York Times reports. The new firm, Vehicle Acquisition Company, will soon be renamed General Motors. At an upbeat Detroit press conference 3 hours later, GM CEO Fritz Henderson promised to turn the impressive "speed and intensity" of the reorganization to making great cars. More»

Court Clears Path to 'New' GM

Court ordered stay on asset sale expires

(NEWSER) - General Motors is set to complete its bankruptcy reorganization, the Detroit Free Press reports. The sale of certain GM divisions to the “new” GM—largely owned by the US Treasury—is expected to happen tomorrow, at the expiration of a holding period for opponents of the deal to make objections. Two unidentified parties, likely GM creditors, had sought to file appeals, but their requests were denied. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

General Motors: How a Giant Fell

After decades of dominance, automaker blamed others for downfall

bankruptcy • General Motors • Detroit • automaker • auto industry • Chapter 11

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Done Deal: Fiat Buys Chrysler Assets

Administration triumphs as bankruptcy effectively ends

Make Romney the Head of GM

Former Mass. governor could turn around automaker, says Bennet

GM Bankruptcy a Gold Rush ... for Lawyers

Most complex filing ever will net hundreds of millions in legal fees

Done Deal: GM Out of Bankruptcy

Good assets go to US-backed firm

Court Clears Path to 'New' GM

Court ordered stay on asset sale expires

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?