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I had read somewhere that part of GM (and all the US automakers) problem is the deal they struck with the unions. If I remember correctly they now pay the retirement salaries of more people than actually work for them so they basically are paying two salaries for every worker they have. Things don't go well when that happens.
Add into that when the SUV started taking off they pretty much abandoned trying to make and sell a good car that got good mileage and now that people aren't buying SUVs anymore they are having to adjust on the fly.
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