General Motors will need a new name

Should General Motors Co. (GM) change its name since, if it survives at all, it will be a shadow of its former self?

North America's No. 1 automaker is widely expected for bankruptcy protection on June 1. Bloomberg News reported that GM, "the world's largest automaker until its 77-year reign ended in 2008, plans to file for bankruptcy protection on June 1 and sell most of its assets to a new company, people familiar with the matter said."

The company, which has been hemorrhaging jobs and money for years, will soon identify the 14 factories that it plans to shutter as part of its corporate restructuring, according to the Associated Press. GM also is trying to sell its Opel/Vauxhall before the parent company's bankruptcy.

The Detroit was founded almost 101 years ago by William "Billy" Durant, who was a leading manufacturer of horse-drawn carriages in Flint, Mich. He is responsible for the creation of GM through the acquisitions of Oldsmobile, Cadillac and the company which became Pontiac.