Why GM could have succeeded if it really wanted to, and why it should fail.
There are past successes at GM. The relative success of GM’s Europe and Asian subsidiaries shows that. One such article from three years ago shows that GM, given the correct direction, can indeed make small efficient vehicles that people want to buy.
http://www.iht.com/articles/2005/08/08/business/van.php
Unfortunately, it chose to continue researching, developing, producing, and selling behemoth guzzlers that no one wanted when fuel prices inevitably climbed higher. Were they thinking $1/gallon gas was coming back?
Bad management should not be bailed out. GM should be allowed to go bankrupt, and a stronger domestic car industry will be reborn out of the ashes of the current failed business model.