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...tell you about that wacky night he spent at the bottom of Mario Lemieux's pool - because every year, each player and front-office member from the winning team gets to spend a day with the Cup before turning it over to their championship successors. (Of course, if the Detroit Red Wings hold on to their 2-0 series lead over the Pittsburgh Penguins in this year's Finals, they'll get to party with it for two straight off-seasons.) If you've only got a day to hang with Stanley, you'll want show him a helluva time...

Author: /time Magazine | Title: The Stanley Cup | 6/2/2009 | See Source »

...part of its effort to reorganize under Chapter 11 of the bankruptcy code, GM has named Al Koch, a partner in J. Alix & Associates, a Detroit-based turnaround firm, to serve as chief restructuring officer. Koch, who has served as the undertaker for dozens of other firms over the years, including Kmart, will be responsible for laying to rest what is already being quaintly referred to as the old GM and what will no doubt be a mountain of liabilities. (See pictures of GM factory-scapes...

Author: /time Magazine | Title: Disposing of the Remains of the Old GM | 6/2/2009 | See Source »

...piece of real estate that won't be on the list, even though it is only partially occupied now, is GM's riverfront headquarters in downtown Detroit, a city that's now world famous for its industrial ruins. The Obama Administration has decreed the headquarters will stay downtown - at least for now - rather than move to vacant space at the GM Technical Center in suburban Warren. (Watch an interview with Ford CEO Alan Mulally...

Author: /time Magazine | Title: Disposing of the Remains of the Old GM | 6/2/2009 | See Source »

...turn out tanks. The University of Michigan at Ann Arbor buzzed with boffins working on government contracts, and in 1948, the campus had 21,000 students enrolled - or a fifth of the total number of students at every university in France. Two years earlier, a veteran editor of the Detroit Free Press wrote, without irony, "Detroit has been hailed as Detroit the Dynamic, Detroit the Wonder City...

Author: /time Magazine | Title: Willow Run: An Obituary for GM's Most Famous Plant | 6/2/2009 | See Source »

...Detroit's golden age was very short-lived. Willow Run was never a massive success in peacetime. Henry Kaiser, who wanted to rival the Big Three, bought the plant, and in 1947 he employed 15,000 people there. But by 1953, when the plant was sold to GM, the number had dropped to 3,000. The city was already on its way to being the epitome of the Rust Belt basket case. In 1950, Detroit had a population of nearly 1.85 million; by 1990, it had fallen to just over 1 million...

Author: /time Magazine | Title: Willow Run: An Obituary for GM's Most Famous Plant | 6/2/2009 | See Source »

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