Gerry York is an advisor to billionaire Kirk Kerkorian, who owns 7.8% of GM. It's an interesting read.
This is a follow-up to the blog post I put up yesterday.
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tryan says:
04:19 AM, 01/12/06
That was an excellent dissertation on GM's current situation and what it must do to get back on its feet. There were a couple of key points that resonate with me and they are:
1. That everyone is in this together. Not just the company execs, board of directors or employees, but the surrounding community as well. York trumpets an "equity of sacrifice" that I think is necessary and will be beneficial for all involved in the future. That is, a little sacrifice by all now equals a lot of gain for all in the future.
2. GM needs to cull their product line. I've been saying this for awhile, GM simply offers too many product lines with too much overlap between them all. There needs to be a picking and choosing of brands and beyond that, the vehicles they offer. Redundancy is not usually a good thing when trying to make a corporation more efficient and profitable.
I highly recommend reading the speech if you have time, It is rather long, but well worth the time spent.
ateixeira says:
02:38 PM, 01/12/06
Isn't this the same guy that couldn't get a board seat?
Kerkorian seems sour about that and keeps talking, but is GM even listening?
steve_ says:
11:15 PM, 01/12/06
I wonder if part of the reason that York trumpets an "equity of sacrifice" is because his stock could evaporate in a bankruptcy reorganization.