GM newer board members quit

Kirk K and Jerry Y couldn't stand the GM top management so they left. Not good for GM. Obviously new ideas aren't welcome from an entrenched management.

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=gm > Kerkorian ditches his plans to raise GM stake > > POORNIMA GUPTA > > Reuters News Agency > > DETROIT -- Billionaire investor Kirk Kerkorian shelved plans to raise his > stake in General Motors Corp. yesterday, and his aide quit the auto maker's > board two days after GM nixed a three-way alliance with Renault-Nissan. . > Former Chrysler executive Jerry York, who became a GM director in February, > tendered his resignation from the board yesterday. > > His resignation letter acknowledged GM's progress in cost cutting and in > taking other steps that he said had "greatly" reduced "the risk of near-term > bankruptcy." > > But he criticized "an environment in the boardroom" that made it hard to > challenge management, and he raised doubts about the auto maker's longer-term > outlook. > > "I have grave reservations concerning the ability of the company's current > business model to successfully compete in the marketplace with those of the > Asian producers," Mr. York said in his resignation letter to GM lead director > George Fisher. A copy of the letter was obtained by Reuters.
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Just Facts
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Everything old is new again. This is oddly reminiscent of the 1980s when GM bought EDS and brought Ross Perot onto the board as part of a strategy to shake things up and to bring GM into the computer era. Perot was EDS' founder.

In a short time Ross quit is disgust and sold his GM stock. EDS under GM ownership floundered and lost it's position as the premier computer services outsourcing company.

John

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John Horner

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Gosi

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