What's good for Crocs is good for America?

It used to be that what was good for General Motors was good for America. That was about 50 years ago, and now GM is bankrupt. Fortunately, America does not stand still. In 2002, a new American business icon was born -- Crocs (CROX). But now Crocs, maker of flashy plastic clogs, is getting flushed.

During its heyday, Crocs was the ultimate American product. President George W. Bush, whose last "gift" to America was the current economic catastrophe, sported a pair of its brightly colored, Swiss-cheese-holed clogs, along with his pal, Aerosmith frontman Steven Tyler. But Crocs is now poised to go out of business unless George Clooney can help revive it.