GM Facts:
General Motors was founded in 1908 by William C. Durant.
Durant founded GM with only $2,000 in capital
First V-8 Engine (1914, a 70 horsepower engine for the Cadillac)
First room air conditioner (1929)
First barrier impact and rollover tests (1934).
First fully automatic transmission (the Hydra-Matic in 1939).
First to put turn signals as standard-equipments on its cars (1939)
First company to make $1 billion a year (in 1955)
First hydrogen fuel cell car (the 1966 Electrovan).
First Anti-lock Brake System (ABS) in 1972.
First Electronic Fuel Injection (1979)
GM's bankruptcy
GM lost $31 billion in 2008, taking its total losses to $82 billion in the past four years.
GM lost its ranking as the top global automaker by vehicle sales for the first time in 2008 when it was outsold by Toyota Motor Corp.
Lehman Brothers Holdings Inc.'s Sept. 15 bankruptcy filing is the nation's largest with $691.1 billion in assets, and it likely served as a catalyst for GM and Chrysler's downfall, as it hastened the erosion of credit markets, making it impossible for GM to borrow money
GM's bankruptcy filing is the fourth-largest in U.S. history and the largest for an industrial company. The company has $172.81 billion in debt and $82.29 billion in assets.
The government will take 60 percent ownership stake in the new GM. The Canadian government would take 12.5 percent, with the United Auto Workers getting a 17.5 percent share and unsecured bondholders receiving 10 percent.
GM shares fell as low as 27 cents their lowest price in the company's 100-year history
Existing GM shareholders are expected to be wiped out.
