Why GM May Not Be Dead

It's not out of the woods yet, but Wall Street is warming to the beleaguered automaker

When General Motors asked Bob Lutz to revive its product line in 2001, the thinking was that if anyone could do it, he was the man. The charismatic, brash ex-Marine fighter pilot had led the development at Chrysler of such hot cars as the Dodge Viper and PT Cruiser, and he wasn't shy about criticizing GM for cranking out the dullest metal in Detroit.

Many Americans have come to share that view, thinking of GM as a rusted, doomed giant that will never recover from decades of bad cars and better foreign competition. President George W. Bush said as much in...

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