How on earth did this happen?
General Motors, the 100-year-old car company that once employed more than 500,000 workers and had a 50 percent market share, just crumbled into bankruptcy. The government now runs it.
In the mid-'70s, I attended law school in Michigan. Even back then, foreign automakers — especially the Japanese — steadily shaved off market share from the once-mighty Big Three: GM, Chrysler and Ford.
This foreign encroachment into the auto industr ...
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