It's interesting how people with little (sometimes no) knowledge are so free with their hatred. Here's what has brought GM down:
1. Delphi bankruptcy
2. American Axle strike
3. Hurricane Katrina (and others)
4. The incredible run-up of gas prices in 2008 (which no Japanese company anticipated either)
5. The housing crisis
6. The banking and credit crisis
7. The recession
None of these things were within GM's control. That which they could control, namely wages and health care, they pretty much fixed in 2007 with the UAW contract that was hailed as a breakthrough.
The mismanagement that has plagued GM occurred in the 1970s and 1980s. Beginning with Jack Smith and continuing with Rick Wagoner, GM's management has been far sighted, bold, and innovative.
Of course, there are those who will ignore the above because it doesn't fit their existing biases, but those of us who actually know the industry just shake our heads in sadness and wonder at the ignorance among critics and politicians alike.