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Global Motors: decades of corrupt collusion with the foreign-aid industry have left General Motors, once the colossus of the auto industry, facing extinction.(BUSINESS)

The New American

| May 16, 2005 | Grigg, William Norman | COPYRIGHT 2005 American Opinion Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

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 ...

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