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...... GMs prosperity reached its height in the 1950s and 1960s, where the phrase that what was good for GM was good for the country became a popular slogan about the economic decisions. The companys large, flashy vehicles celebrated postwar American prosperity and the new abundance of wealth and raw materials. The Chevy and the Cadillac symbolized Americans dominance of the world during these critical Cold War-era decades (Explore GM history, 2008, General Motors Website). But the companys largesse, passed onto employees in the form of generous benefits and pensions, also meant that when the company began to falter it became engulfed by obligations way beyond its ability to pay former employees, and created a drain upon its bottom line. (Loomis 2006:1)
Even in 1990s when sales of American-made SUVs were high, GM flirted with bankruptcy in 1992 and then reacted sluggishly as local rivals Ford and Chrysler capitalized on the SUV boom (Loomis 2006:1). When the sales of all American SUVs began to plummet as the price of fuel escalated, GM was the hardest-hit of all the Detroit-based auto manufactures. In 2006, GM recorded the second-largest loss of any corporation in U.S. history (General Motors, 2008, Histomobile). On December

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