by Joseph Skoda

Created on: June 02, 2009   Last Updated: June 04, 2009

On June 1, 2009 General Motors (GM) filed for Bankruptcy protection. As many other companies have done recently, they are asking for time to restructure their businesses in an effort to make a profit once again. But, why did this happen? Aren't they invincible? After all, they have been a Powerhouse in this industry for many years.

GM's Cadillac was actually Car of the Year in 2008 so How can this happen? GM has been a very strong and desirable American Brand for several decades. They have been a Powerhouse for many years. How has the economy failed us so much that this and other Automakers have been on the verge of collapse? Unfortunately, many Americans went outside of the United States to purchase their automobiles as the Japanese and German models became popular because of their Quality. They also have found ways to improve gas mileage.

Today, American Automakers had to face that they have much work to do and much trust to restore to become that Powerhouse again. President Barrack Obama has agreed to $30 Billion to help bail out General Motors. This makes GM the 4th largest Bankruptcy in United States history. Our government now owns 60% of the automaker. In exchange GM has agreed to close 9 manufacturing plants and to put others in an idle mode. Dealerships have to close and people have to lose their jobs in these trying times.

Can we be safe anymore? Who can we trust? EW56Bhttp://vids.myspace.com/index.cfm?fuseaction=vi ds.individual&videoid=58318922WH6PDZ6EFP

If we lose General Motors can any U.S. Business be safe. Learn to recession-proof yourself. EW56Bhttp://www.desire2begreat.infoWH6PDZ6EFP

For many years GM has seemingly produced Quality Vehicles: Chevrolets, Buicks, Hummers, Cadillacs, GMC and Corvettes. They were in charge of trend-setting for most of their existence. Now as people lose their jobs, how are their retirees now treated? Will they receive less retirement pay and benefits or will new hires receive no benefits at all? Will the United Auto Workers association still play an essential part of the automakers? Or, will they have to go away?

Only time will tell if President Obama has made the right decision to help out this American Icon. Whatever happens, take care of yourself and your family's well-being. This recession doesn't have to affect you or your loved ones. Protect your resources and most of all "Buy-American" Let America once again be the Leader in innovative ideas and the ones to look up to for Quality products as we are striving to protect our environment.

GO - AMERICAN!

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