After a calamitous decade of billion-dollar losses and misdirected diversification, General Motors Corp. is attempting to reinvent the wheel. In the 1920s, its chairman and creator, Alfred P. Sloan, decreed, "General Motors will be known for building cars for every purse and purpose." As part of a stunning, perhaps even desperate, act of corporate rebirth, GM is spending a suitably giant-size $6 billion this year to launch a fleet of 16 new vehicles. The goal is to occupy rediscovered market niches, and begin the next decade's equally awesome mission--reclaiming its lost automotive empire.
This year Mr. Sloan would have been pleased....
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