Tag: Bankrupt
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Why General Motors became Bankrupt?
One more US giant has become Bankrupt. I am talking about United States number 1 car company, General Motors. General Motors was founded in 1908 with headquarters in Detroit, Michigan. It is the world’s second-largest automaker after Toyota. However, from 1931 to 2007, it was world’s lartest automaker. This company has around 250k employees around…
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How Lehman Brothers became Bankrupt?
15th Sept 2008 has become a black day in the history of financial market with US fourth-largest investment bank Lehman Brothers filing for bankruptcy. Already Merrill Lynch has been acquired by the Bank of America and AIG is also verge of bankruptcy. How it happened? How 158 years old finance giant became bankrupt? Today I…