GM Survives Bankruptcy, Promises Change

General Motors, once the world’s largest automaker, has fallen far from its lofty perch and into bankruptcy. However, GM emerged from bankruptcy two days ago and it is already promising to make sweeping changes in addition to the dramatic changes it has already made to try to reclaim at least a bit of its former glory.
 
The historic automaker has the federal government to thank for surviving one of the largest bankruptcies ever due to the $50 billion worth of taxpayer money that the government has invested into GM. That does not mean that GM will not have to work hard to repay the investment, though, with GM promising to place limits on the number of members of its executive committee to speed decision making.
 
GM has already shed several brands and about 35 percent of its workforce, but according to company officials, GM has several unquantifiable changes it needs to make as well. Instead of trying to match its competitors, GM has expressed its desire to surpass them in order to reverse the loss of momentum that GM has experienced since its time as the largest automaker in the world.

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