I was only one letter off, but an American corporation is facing bankruptcy on June 1st. Not MGM but GM. (TheStreet). General Motors used to represent American ingenuity, innovation, and prosperity. In the last 25 years it has represented nothing but bloated costs, ugly cars and stifling innovation. GM had the technology to make EV cars. GM had the technology to make PHEV cars. GM had intercooler technology to increase gas mileage. GM had the resources to stay competitive. Repeat, "GM HAD the resources to stay competitive."
They couldn't keep their costs down. They listened to MBA suits tell them how to run their business instead of using common sense. Moreover, MBA's can't gamble for shhh, and GM followed the suits' advice by betting everything on SUV/Trucks. Instead of spreading out their bankroll on various car models, they shoved all-in on SUVs. For about 5 years this wasn't too bad, but the long run caught up with them and they lost everything.
Any professional gambler worth his rice knows that risking your entire net worth on one hand is almost always the wrong choice.
First!
and hopefully not the last. :)