Kerkorian thumbs his nose at GM - Mercedes-Benz Forum

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post #1 of 2 (permalink) Old 10-06-2006, 03:01 PM Thread Starter
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Kerkorian thumbs his nose at GM

...I don't know if his thumb (or perhaps one of his fingers?) was also aimed at GMISBEST.

GM's biggest investor declined (through his adviser, Jerry York) to follow through with earlier-announced plans to purchase more GM stock. York also quit the board. Among his comments:

"the world's No. 1 automaker has not done enough to change its competitive position" He also criticized the board room's "environment."

"I have grave reservations concerning the ability of the company's current business model to successfully compete with those of Asian producers. The overriding issue remains that of North American market share decline, which while seemingly having been attenuated somewhat over the past few months as we move through the 'sweet spot' in our product renewal cycle, may also be a function of heavier sales incentive spending."

The article is here if you want to read it:

Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy; its inherent virtue is the equal sharing of misery. (Winston Churchill)
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post #2 of 2 (permalink) Old 10-06-2006, 08:43 PM
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Kirk’s also not happy about the Renault/Nissan deal falling through. Seems GM thinks it is on the right track and wants to go it alone.

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