The plan led to the reduction and/or closure of “14 factories, 2,400 dealerships, 21,000 hourly jobs, 8,000 white collar jobs” (The Economist) and, by doing so, it would then be able to save $79 billion to repay over $172.81 billion in accumulated debt. The review also required the resignation of the president and CEO, Rick Wagoner. In my research paper I would like to explore how different markets, as well as union greed and board member mismanagement, contributed to the bankruptcy of General Motors in 2009. I will take a closer look at the collapse of the American housing market in 2007 as well as how the price of gasoline nearly doubled in 2008 and what role they played in GM's bankruptcy. As I explore these different markets, greed and mismanagement I intend to illustrate how they contributed to what might be called the “perfect storm” that toppled the automotive giant and led to its