more trouble for G.M.

General Motors proposed a landmark deal for all of its 113,000 union workers if they quit. The company is willing to offer $140,000 early retirement plans for those who choose to leave. This is just one small portion of the bigger picture. Because of recent devastation financially, G.M. hopes to reemerge as a smaller, more competitive car comapny that can compete in todays market. Their economic standings ahve declined slowly in the past two decades, but over the past few years have plumented because of rising gas prices. The plan could however backfire, and either way will end up costing G.M. nearly $2 billion. This year it is expected that Toyota will beat General Motors, and become the largest automotive company in the world.

General Motors was founded in 1908 in Flint, Michigan. It origionally ran only two brands of cars, Buick and Oldsmobile. During the 1920's Alfred Sloan lead General Motors to an amazing feat, they beat Ford and became the largest automobile company in the world. At this time they also developed Cadillac, Elmore, and Oakland. In the 1930's the company created Greyhound Bus Company. During the 1950's GM was the largest corporation in the U.S., having surpassed all companys in all industries.