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General Motors is not merely the world's largest car manufacturer; it is an institutional icon of American capitalism, a pillar of our manufacturing economy, and for decades has been among the bluest of blue-chip investments. As the industry leader in one of America's signature industries, GM is regarded by economists sociologists, and pundits as a bellwether of our economic fortunes.
Thus it's a matter of no small concern that GM, the once-unassailable colossus of the auto industry, appears destined either for extinction or a taxpayer-funded bailout.
On April 18, GM announced first quarter losses of $1.1 billion. That dismal report came two weeks after ...