Imagine if I told you 30 years ago that by the turn of the millennium General Motors (GM) would be fighting for its corporate existence. I'm sure you would have had me committed to a nice hospital room with padded walls. But here we are in 2006 and just a short while ago General Motors reported another batch of disappointing results and a restatement of it earnings. Just a few days ago, Moody's cut its rating on GM for the third time since August 2005 to six steps below investment grade. GM now has a smaller market share than at anytime during the past 50 years.
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