GM Emerges From Bankruptcy With Leaner Look
After being battered like a pinball for the last several years, General Motors Corporation finally has time to take a breath. Decades of mismanagement, constant strife with workers and suppliers, and more recently, the downturn in automotive sales in the United States had forced the country’s largest automaker to seek governmental aid and eventually file for bankruptcy protection. After only 40 days under bankruptcy protection, GM emerged Friday with a new leaner look, a revamped management philosophy, new ownership and $50 billion of additional governmental loans.
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