IntroductionGeneral Motors Corp. (NYSE: GM), the world's largest automaker, has been the global sales leader for 76 years. General Motors was founded in 1908 in Flint, Michigan and currently employs approximately 284,000 people worldwide. GM's global headquarters is the Renaissance Center located in Detroit, Michigan, USA. They currently produce cars and trucks in 35 different countries. Its European headquarters is based in Zurich, Switzerland, while Holden's headquarters are located in Melbourne, Victoria, Australia. In 2007, 9.37 million GM cars and trucks were produced globally under the following 12 brands: Buick, Cadillac, Chevrolet, GM Daewoo, GMC, Holden, Hummer, Opel, Pontiac, Saab, Saturn and Vauxhall. GM is also the majority shareholder of GM Daewoo Auto & Technology Co. of South Korea and has had much cooperation with various automakers around the world. This includes product, powertrain and purchasing collaborations with Suzuki Motor Corp. and Isuzu Motors Ltd. of Japan, advanced technology collaborations with Toyota Corporation and DaimlerChrysler AG and BMW AG of Germany, and vehicle manufacturing initiatives with several global automakers including Toyota, Suzuki, Shanghai Automotive Industry Corp. of China, AvtoVAZ of Russia, Renault SA of France and, most recently, UzAvtosanoa of Uzbekistan. GM also collaborated with Fiat SPA (see GM/Fiat Premium platform) and Ford Motor Company. To date, GM holds various stakes in many different automakers. GM parts and accessories are sold under the GM Performance Parts, GM Good Wrench and ACDelco brands through GM Service and Parts Operations which supplies GM dealers and distributors worldwide. GM engines and transmissions are... half paper... with 0.8 billion in cash on hand. Meanwhile, GM was also selling the shock 20.2% stake of SUZUKI and the shockholder holding of GMAC. However, due to the US economic recession and the American subprime debt crisis, as well as the global warming of the economy and inflation of developed countries, GM is unable to sustain the difficult economic environment. GM is now entering a heavy debt crisis that cannot be addressed by the company that has had a shining history ever before. ReferenceHoggett, J., Edwards, L., Medlin, J. (2008). Accounting, 6th edition. John Wiley & Sons Australia Limited. Wikipedia, the free encyclopedia, (2003). General Motors. From Wikipedia, the free encyclopedia Retrieved May 10, 2008 from the Web: History, Corporate Information, Retrieved May 10, 2008 from the World Wide Web: < http://www.gm.com/corporate/about/history/>