As General Motors prepares itself for the largest industrial bankruptcy in American history, there’s not only the business ramifications to deal with, but a very human factor to take into account, as well.

"There is no doubt this is a cataclysmic event for us. It’s incredibly tough for the families and communities affected" by forthcoming GM plant closures in Michigan, Gov. Jennifer Granholm told MSNBC this morning. "Times are tough here, but you know what? So are we."

"This is a very tough day for Michigan" and the country, added Sen. Debbie Stabenow, D-MI, noting that GM has been the "core of manufacturing" for the middle class in the United States. "These are incredibly difficult times for people who have done nothing more than worked hard their entire lives and made good automobiles."

Granholm said the "silver lining" to GM’s bankruptcy is that "we finally know we’re hitting bottom. We’re resilient and we now know where the end is gonna be."

The governor is encouraged by the federal government’s commitment to a "viable auto industry," and the fact that GM will come out of this with a lighter balance sheet is something to be cheerful about.

"I feel like the bleeding is about to be over," Granholm continued. "The doctor finally says we have one more painful operation and it’s gonna take you three months to heal, and the prognosis is good — we are going to heal … GM will be stronger."

Millions of workers have toiled at GM in the 100 years since the company was founded by William C. Durant, churning out cars like the Cadillac Aero Sedan in 1936, the 1953 XP-21 Firebird 1 — the first gas turbine automobile ever built and tested in the U.S.— GMC’s "Silversides" buses of the 1940s and your everyday Cadillac, Buick and Oldsmobiles that were favorites of families throughout the years.

For decades, automakers like GM provided good blue-collar jobs for men and women who — with their good paychecks, benefits and pensions — were able to provide well for their families. But between advances in manufacturing technology in general, which have allowed machines to do large chunks of the work, and global competition, among other factors, U.S. carmakers have been hit hard in recent years. And for the Big 3’s hometown of Detroit and greater Michigan, the auto malaise has had particularly dreary economic effects. GM and other car companies have laid off scads of workers in recent years, and another 21,000 are going to get pink slips under the upcoming reorganization.

"I know you’ve already seen more than your fair share of hard times," President Obama said today, referring to America’s auto workers. "I will not pretend the hard days are over … what you’re doing is making a sacrifice for the next generation … so that your children and all of our children can grow up in an America that still makes things, that still makes cars. That strives for a better future."

With wowOwow community members such as C jay and Victoria J expressing in our wOw Reports thread how GM’s bankruptcy hits their community and family, tell us below what the personal impact is of the fall of this American legacy.