You can certainly understand the feds’ desire to make GM’s nationalization look like a temporary measure rather than the economic quagmire that is was, is and will be. But anyone with half a brain knew that the not-so-dynamic duo’s suggestion of a 2010 share offering was about as believable as the idea that the U.S. government can save money by creating a new entitlement program. OK, less. Add Jerry York to that half-a-cranium club. Speaking at The Reuters Auto Summit, the ex-ChryCo exec, former GM board member and Kirk Kerkorian front man called any discussion of a 2010 GM IPO the “dumbest thing in the world.” Seems that “They’re not going to be able to make up all the volume that they had with the four brands they are shedding with four brands they are retaining . . . I think that inevitably their market share is going to go down a point or two just by virtue of shedding those four brands.” Saying that, after saying that, Jer’ added some kind words to his piercing glimpse into the obvious. Mr. York praised New GM’s old management. “They’ve done a lot of the right things and we’ll all know in another six to nine months whether they need to do more structurally.” I’m guessing . . . yes!
Man, that guy is a dead ringer for the guy in Edvard Munch’s “The Scream”.
Wait GM still owes each citizen in the US $165.00 apeice not including interest and loan origination fees. I am not taking stock in exchange for that.
Ah yes….Aren’t we going to love living in the “Worlds Greatest Superpower” when every car on the road was built by a foreign corporation?
Portents of things to come….
“Half a cranium club.” Or hacc for short.
Brilliant.
>>> Ah yes….Aren’t we going to love living in the “Worlds Greatest Superpower” when every car on the road was built by a foreign corporation?
I always crack up when I think about how the average UAW worker is outperformed by some uneducated, toothless South Korean that was plowing a rice paddy with an ox 20 years ago.
When your workers can’t even compete with that, ya gotta really wonder about the whole “Superpower” thing.
Or maybe its just in Detroit since many of the “foreign” cars are built right here in the US, with American labor. The difference: They are not hamstrung by the UAW. That’s why their cars are so much more reliable and desired by the public.
Mr. York is a genius living amongst us. like Rembrandt, he may not be so recognized for some time, but then rightly so. like DeLorean, Perot, and Johnson, he tried telling us, we just didn’t listen. that goes mostly to you Fritz. I know you can hear me.
Not bad, it only took five posts about a un-related topic to get around to blaming the UAW for all of Detroit’s problems.
God Bless America, and The UAW.
“God Bless America, and The UAW.”
They’re gonna need it.
Note that the fifth comment combined irrelevant union-bashing with an irrelevant, ignorant, and insulting comment about an ethnic group! A twofer!