Live

Watch CBSN Live

Life After GM

As GM goes, so goes the nation, it used to be said. While General Motors is not the colossus it once was, it remains one of America's iconic brands, its sixth largest company by revenues, and a monstrously over-sized employer of people and buyer of parts. One way or another, you are going to feel the effects of its demise. Even so, the failure of GM (not to mention Chrysler and maybe one day even Ford) probably won't be the economic trauma you might expect. If you're having a hard time picturing life without Detroit, take a look at the U.K., which suffered the failure of its own indigenous auto industry just a few years ago. Conclusion: a GM bankruptcy will be a blow to national pride, but it's a blow the economy and the U.S. carmaking industry can survive.


View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.