Hey, prime members, you can listen to business movers add free on Amazon Music, download the app today.

It's April 2005 at the Business Week offices in Royal Oak, a suburb of Detroit, Michigan.

Business Week bureau chief David Welch is on the phone with a spokesman for General Motors.

David's latest article titled, Why GM's plan won't work and the ugly road ahead is set to go to print in May,

what the online version is already out and is caught the attention of GM's executive leadership.

In the article, David makes some dire predictions about GM's future.

Most notably, a GM is likely to file for Chapter 11 bankruptcy.

Needless to say, the higher ups at GM are none too happy.

The spokesperson has been called to kick dirt on the empire for what GM's leadership thinks is a bad call.

David, your article is way off base.

Well, name one fact I got wrong.

It's not the fact we take issue with.

It's the conclusion you draw from them.

Listen, no one's denying our balance she presents some challenges.

Yeah, that's one way of putting it.

We acknowledge our debt load size.

It's not just your debt load, it's your pension and retiree obligations.

As I said, we acknowledge there are challenges.

They're not just challenges. You're losing market share every year.

You're chasing the competition and research, development, new technology.

And for the first time since the 90s, you're consuming more cash than you bring in and making cars.

Not, but we have long term plans in place. We're going to fight our way back from this downturn.

...