General Motors Corp moved closer to filing the largest bankruptcy ever for a U.S. industrial company after a crucial bond exchange proposal failed, while the fate of GM's European brand Opel remained uncertain after marathon talks with German officials ended without a deal. Full Story »
Posted by Derek Hawkins
Offers perspective on the impact of GM's impending bankruptcy on the European market. Geared toward the business-savvy.
This article reads like a telegram - or press ticker. It is a series of statements that are either directly related or once removed - but it is not an easy read. That doesn't mean it isn't comprehensive or legitimate but it gets many points off for style and readability.
The reporting is factual. Written for a broad audience, the story is not able to go into as great depth as it would if it focused on only one corporation.
The big whiff in the news media's coverage of the GM story is that hundreds of thousands of small investors -- many retirees counting on dividend checks -- were completely wiped out, a possibility not disclosed until the last business day before GM filed for bankruptcy. Is this the face of contemporary populism?
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