How the World's Largest Automaker Drove Down the Road to Bankruptcy
June 1, 2009. Less than a year after celebrating its centenary, the company we knew as General Motors is dead. Once the richest and most powerful automaker in the world; the symbol of American industrial might; the engine room of the American economy, General Motors is now officially bankrupt. A new GM is scheduled to emerge from Chapter 11 in 60 to 90 days' time. It will be leaner, smaller, more focused. But it will also be a mere shadow of the company that once defined 20th century America.
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