Not really totally true.
ORIGINAL: RLSH700
The King was eclipsed, not killed. If they were out of business, then they would be dead, but they are still in business currently. The thing I think is quite ironic is that Toyota has gotten where they are today by making the same short-term decisions that the Big Three made which has lead them to the rut they are in. It will catch up with them as time goes on.