With all the media attention to the so-called news out of GM this morning, you would think they actually have accomplished something.
Nothing could be further from the truth. All that happened is that Kirk Kerkorian got his guy, Jerry York, onto GM's board. This will ostensibly protect Kirk's losing investment in the once-proud auto giant. However, it is widely reported that most, if not all, of what York clamored for has now been done- the reduced dividend, the executive pay cuts, and a few other items.
Perhaps it was just a slow newsday that brought such attention to the ailing auto maker. Seriously, does adding one person to the board really change anything in GM's future?
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