This past year has been a rough year for many people. Unemployment skyrocketed. People were being foreclosed on left and right and evicted before you could even finish reading the notice. Stocks tumbled, super corporations filed bankruptcy and went under. But most of all, Motor City USA was pummeled by this recession, with it coming to a head with the demise of a company once deemed too large to fail, General Motors.
After bailouts and bankruptcy, the GM brand is one that has been badly damaged. One won’t know the extent for perhaps several years, and the outcome of the chain of events put into place by their June 1 bankruptcy filing, but the Associated Press reported of a popular method of reinvention.
On top of company restructuring, many companies also opt for renaming their brand.