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GM: A Giant Falls?48:12
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photoGeneral Motors is perhaps the iconic American corporation. From Chevrolet and Cadillac to Saab and Hummer, GM makes more cars and trucks than any other company in the world.

GM has been one of America's largest employers for decades. It is America's largest private provider of health insurance. Its pension plans support hundreds of thousands of retired Americans.

So when GM shocked the markets by sharply revising its earnings downward this week, it was more than just shareholders who felt a chill. GM's debt is now teetering on junk bond status. Analysts are asking how or whether the company can be turned around.

Hear why America's number one auto manufacturer is in a very real struggle to survive.

Guests:

Micheline Maynard, New York Times reporter and author of the books "The End of Detroit" and "Collision Course: Inside the Battle for General Motors";

Gerald Meyers, former chairman of the American Motors Corporation, professor of business at the University of Michigan and author of the book "When It Hits the Fan, Managing the Nine Crises of Business";

Sean Egan, managing director of the Egan-Jones ratings company, an independent debt rating firm.

This program aired on March 18, 2005.

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