New product the bankruptcy of General Motors (GM)
Weiss, Martin
Weiss, Martin
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2024
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22
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Abstract
On June 1, 2009, General Motors (GM) filed for bankruptcy under chapter 11, after more than 100 years of existence and 77 years as the number one car manufacturer in the world. Marking the largest bankruptcy in the corporate world, it remains intriguing to understand what caused GM's bankruptcy and whether could it have been avoided. One of the main reasons often proclaimed is the financial crisis, which in 2009 was coinciding. But besides this external shock, had other issues within the automotive industry or within GM itself an even stronger impact? To recover from a crisis or even bankruptcy, as GM attempted with the emergence of 'New GM' after the bankruptcy, it is crucial to have a thorough understanding of the specific issues at hand.
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Crisis, Restructuring, Turnaround, Automotive Industry