How General Motors Was Really Saved: The Untold True Story Of The Most Important Bankruptcy In U.S. History

Many, including President Obama, have played their part in the success of the government-sponsored turnaround plan that saved General Motors, the most important industrial company in US history.

But on the fifth anniversary of the crisis, Forbes was finally laid the groundwork for what really happened in GM's darkest days, 

when a small group of corporate incompatibility and turnaround experts gathered in Detroit. Here's a special and unprecedented view of how you became a person. Company rescue.

For months, the news was cool for General Motors, once the largest and most influential company in the United States. 

Bear Stearns, Lehman Brothers, Merrill Lynch, AIG and Citibank were on the verge of death or were already in the graveyard. The mood was fate.

After the worst recession since the Great Depression, car sales fell free and GM lost billions of dollars and ran out of money.

When the company closed the book in 2008, it would be in the red for an astonishing $ 30.9 billion.

CEO Rick Wagner led the Washington car delegation and sought government funding to bail out the industry and prevent GM from going bankrupt.

Five years later, after an unprecedented government equity investment, GM is thriving and the Treasury plans to sell the remaining shares in the coming months.

There are countless articles and books about GM's reorganization and turnaround.

Not to mention the three-year trumpet from the Obama administration, it fully acknowledges the success of the turnaround. GM is not yet fully informed.