• One of the country’s greatest icons of industry is no longer independent. After years of mounting losses and an inevitable couple of weeks, General Motors filed for bankruptcy this morning. source

• The automaker, which has been eroding market share since the ’80s and lost $30 billion last year alone, will likely be 60% owned by the federal government, which is sarcastically awesome. source

• history source

• insolvency source

Posted by Ernie Smith • Permalink