General Motors Corporation was founded in 1908 by William Durant. GM made a history, GM was the global sales leader for 77 consecutive calendar years from 1931 to 2007. It manufactured cars and trucks in 34 countries. But global economic crises, GM policies and US recession brought end of GM.
General Motors filed for a government-assisted Chapter 11 bankruptcy protection on June 1, 2009, with a plan to re-emerge as a smaller and less debt-burdened organization in several months. The chapter 11 petition was filed in the federal court in Manhattan, New York. The filing reported US$82.29 billion in assets and US$172.81 billion in debt. As ranked by total assets, the bankruptcy is the fourth-largest bankruptcy in U.S. history, following Lehman Brothers Holdings Inc., Washington Mutual, and WorldCom Inc.
This old car body at Gilmore, Idaho seemed to represent the battered state of the largest US automaker.
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