GM Government bailout
In twenty century, General Motors was recognized as the largest in the automotive industry in the whole world. It has been involved in continuous innovations in the automotive as well as helping in defining the developed new breeds of large multinational bureaucratic corporation that has been involved in shaping the world economy after the wars. It was recognized earlier as the car making industry from the year 1931 to the year 2008.
It was unfortunately replaced by Toyota as the world leading car maker. After a steep cutback of a period of two years, the General Motors fall into brinks in which they requested for support in terms of cash by the federal government to help curb the crisis. In the year 2008 in December, the general motors received a bailout of about $9 billion from the federal government as an aid.