http://www.ft.com/cms/s/0/e75423ac-4df8-11de-a0a1-00144feabdc0.html?nclick_check=1

General Motors will file for Chapter 11 bankruptcy protection in New York on Monday in a humiliating fall from grace for a symbol of America’s industrial might and the world’s biggest carmaker for much of the 20th century.

GM will say that it aims to emerge from Chapter 11 by August 1, shorn of much of its debt, four of its eight brands, and surplus plants and dealers.

GM is also likely to announce within the next day or two the long-awaited sale of Hummer, the large sport-utility vehicle that became an emblem of GM’s missteps.

humiliate 〈人に〉恥をかかせる，〈…の〉自尊心を傷つける

might 勢力，権力，実力

shorn(shearの過去分詞) 〔…を〕奪い取られて 〔of〕

misstep 踏み誤り[はずし]; 失策