Just when I sit down to grab some lunch, and right on the TV in front of me it is announced that Kirk Kerkorian's point man on the General Motors Board of Directors, Jerry York, has just offered his resignation. This happening just two days after the announcement of the failure of the GM, Nissan, and Renault proposed alliance.
Now York's resignation letter supposedly says the failure of the alliance had nothing to do with his resignation, but rather it had to do with the GM Board. As I said earlier, stay tuned, as this soap opera is just moving into the next act...
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Here's a couple of news updates: One from The Detroit News and the other from The Washington Post. As a result of York's abrupt departure GM's stock had dropped $1.62 to $31.51 as of 12:35 p.m. So does this mean Kerkorian will also sell shares, or wait for GM shares to drop lower and then make an even bigger purchase than the 12% that had been reported that he was interested in buying?
Hostile takeover anyone? Could this be the first volley of shots fired in an aggressive bid for GM by Kerkorian?
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Here's a couple of news updates: One from The Detroit News and the other from The Washington Post. As a result of York's abrupt departure GM's stock had dropped $1.62 to $31.51 as of 12:35 p.m. So does this mean Kerkorian will also sell shares, or wait for GM shares to drop lower and then make an even bigger purchase than the 12% that had been reported that he was interested in buying?
Hostile takeover anyone? Could this be the first volley of shots fired in an aggressive bid for GM by Kerkorian?
banjolaya1 says:
02:31 PM, 10/ 6/06
Does that mean GM will finally focus on reliability instead of trying to cut cost by firing people and doing all kinds of things that have nothing to do with sales which is the primary source of revenue?
GM - think reliability=sales!!!
estreka says:
10:26 PM, 10/ 9/06
I think this is disasterous for GM. If Kerkorian bails, GM will lose a great deal of funding. But I think if that was going to happen, it would've happened already.
jerrywimer says:
05:18 AM, 10/11/06
Honestly banjolaya1, you need to check out the new products GM has been selling over just the past year or so, as well as the information available on what's coming. Because that comment seems like something people were writing a couple of years ago, not what they're saying now about GMs new products and reliability. (in other words- you're falling behind. Get With The Program!)