It will stand as the largest industrial bankruptcy in history.  As GM enters bankruptcy protection,  the U.S. government has vowed to provide the necessary billions it will need in aid.  It will also need protection for the taxpayers' investments without interfering with normal operations.

GM President Fritz Henderson will hold a news conference today following an address from President Barrack Obama at the White house.

Late Sunday the federal government said it would provide an additional $29 billion in aid to General Motors in an attempt to assist its restructuring.  The process will likely take upwards of 90 days, and if successful, will allow GM to emerge as a much more profitable and viable company with a much leaner workforce and fewer number of plants.  The company plans, however, on cutting nearly 35 percent of its workforce and its stock on will likely see huge losses this week.

The government should refrain from intervening in day-to-day management of GM, and will management to make critical decisions.   Some analysts are hopeful GM will come out of this crisis a much more profitable and better-restructured company.