Friday, July 7, 2006
H. Ross Perot:
"Where I come from, when you see a snake, you kill it. At GM the first thing you do is form a committee on snakes, next you hire a consultant, then you talk about it for a year."
Today's Detroit News:
"With billionaire shareholder Kirk Kerkorian demanding action, GM's directors likely will form a committee today to explore the possibility of GM entering into a partnership with Renault-Nissan.
GM is being advised by investment firms Goldman Sachs and Morgan Stanley, say people familiar with the matter."
With most directors tied to investment banks, and six large organizations controlling almost two thirds of General Motors, is anyone surprised by this recent activity?