GM Cautions Kerkorian

[Mr.Krinkle]

Bob Lutz has a few things to say about it

http://www.canada.com/nationalpost/financi...dea646c&k=13708

Many auto industry observers agree, saying Mr. Wagoner and his management team are on the right course.

"This is not the Titanic any more," said Rebecca Lindland, an auto analyst with Global Insight in Lexington, Mass. "It's more like The Love Boat with Wall Street because of the stability of good management."

Mr. Lutz suggested the trigger for this potential battle -- the perceived lack of seriousness with which GM studied a commercial tie-up with Nissan-Renault -- should not be a trigger at all.

He said GM's financial advisors, Morgan Stanley and Goldman Sachs, concluded it was not a good deal because GM would be giving away 20% of its equity as well as a huge amount of competitive information

[regfootball]

Kirk is a loser.

[CARBIZ]

How is this proxy fight going to benefit GM and its turnaround plans? Didn't Kirk lose his fight to Chrysler once already?

Is this guy worried, that on his deathbed he will have built nothing, accomplished nothing but only made money? At least the moguls of the 19th century BUILT things - Standard Oil, railways, etc.

Does Tracinda BUILD anything? Or just tear down for "shareholder value."

Toyota must be laughing its ass off.

[ocnblu]

That's what I was wondering about... revealing competitive information. How were talks even advanced without talking about future plans in some sort of detailed way?

[Mr.Krinkle]

How is this proxy fight going to benefit GM and its turnaround plans?  Didn't Kirk lose his fight to Chrysler once already? 

  Is this guy worried, that on his deathbed he will have built nothing, accomplished nothing but only made money?  At least the moguls of the 19th century BUILT things - Standard Oil, railways, etc.

  Does Tracinda BUILD anything? Or just tear down for "shareholder value."

  Toyota must be laughing its ass off.

203735[/snapback]

hes got method to his madness, although at 90 it makes you wonder why still.

fact is he wants to win this one somehow. if it means kicking screaming and hair pulling the whole way theres gotta be some big piece of cheese hes after.

of course he probably needs to take this into account too:

Meanwhile, GM investor TCW Group Inc., with 7.85 million of the automaker's shares, said yesterday it backs Mr. Wagoner's plan to revive profit. "We invested in GM based on the turnaround management has put in place, with health concessions, a pension freeze, a new vehicle lineup," said analyst Carol Moreno of TCW, which holds 1.4% of GM's stock. "It wasn't for Kerkorkian and it wasn't for a strategic alliance or anything like that."