I remember that when I was a kid and getting interested in the world around, the largest company in the world was General Motors (GM).
I was enthralled to read news stories about GM back then. It was one of the iconic companies in the world.
It's hold on the market was so huge that in spite of losing market share in the past decade, it remained the largest automaker in the world until 2008 when finally
During the past couple of days GM has been in the news a lot. They have filed for bankruptcy on June 1st. And the plan is for it to be reborn as a smaller, 'less debt-burdened' company in a couple of months time. The sad part is that they have plans to sell off their prestigious Hummer, Saab and Saturn brands. These prestigious brands have been loss making for quite sometime and this seems to be the only way out to survive.
Chrysler has already shown the way and now GM has followed suit.
Industry watchers are betting on the third of the 'big' three - Ford to follow the same route.
GM's fall has been termed by experts as the 'biggest failure of an industrial company' in US history.
Atlas shrugged.
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