York on GM Board.
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From: Chicagoland IL
York on GM Board.
FOR RELEASE: 2006-02-06
York Elected to GM Board of Directors
O'Neal to step down
DETROIT – The General Motors Board of Directors today elected Jerome York to the GM Board, effective February 7, 2006. He will serve on the Board’s Public Policy Committee and Investment Funds Committee.
“Jerry brings years of business experience and knowledge of the automotive industry to the GM Board,” said Rick Wagoner, GM chairman and chief executive officer. “We are pleased to welcome him to our Board.”
York is a consultant to Tracinda Corp., the beneficial owner of approximately 9.9 percent of the common stock of GM. Tracinda Corp. is owned by Kirk Kerkorian.
In his past business career, York spent 30 years in the automotive industry, having worked at General Motors, Ford and Chrysler. He spent 14 years at Chrysler Corp. in a variety of executive positions and served as executive vice president and chief financial officer of Chrysler from 1990 to 1993 and as a director from 1992 to 1993.
York currently serves as a director of Tyco International Ltd., Apple Computer, Inc. and Exide Technologies, Inc. He has been chief executive officer of Harwinton Capital Corp., a private investment company that he controls, since 2003.
From 1993 to 1995 he was senior vice president and chief financial officer of IBM Corp. and served as a member of IBM's Board of Directors in 1995. From 1995 to 1999, he was vice chairman of Tracinda Corp. York was chairman and chief executive officer of Micro Warehouse, Inc., a reseller of computer hardware, software and peripheral products from 2000 until 2003. He also served as a director of MGM MIRAGE from 1995 to 2005.
Wagoner also announced that GM Board accepted the resignation of E. Stanley O’Neal, chairman and chief executive officer of Merrill Lynch & Co., Inc. In submitting his resignation, O’Neal cited increased time demands resulting from the expanded schedule of GM board meetings which were difficult to accommodate given his responsibilities at Merrill Lynch, as well as limits on his ability to act as a GM director because of potential conflicts with matters in which Merrill Lynch is involved.
“Stan O’Neal has been a great asset on the GM Board and to General Motors management over his 5 years of service as a director,” Wagoner said. “We are grateful for his many positive contributions to General Motors and wish him the best.”
General Motors Corp. (NYSE: GM), the world’s largest automaker, has been the global industry sales leader for 75 years. Founded in 1908, GM today employs about 327,000 people around the world. With global headquarters in Detroit , GM manufactures its cars and trucks in 33 countries. In 2005, 9.17 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall. More information on GM can be found at www.gm.com.
York Elected to GM Board of Directors
O'Neal to step down
DETROIT – The General Motors Board of Directors today elected Jerome York to the GM Board, effective February 7, 2006. He will serve on the Board’s Public Policy Committee and Investment Funds Committee.
“Jerry brings years of business experience and knowledge of the automotive industry to the GM Board,” said Rick Wagoner, GM chairman and chief executive officer. “We are pleased to welcome him to our Board.”
York is a consultant to Tracinda Corp., the beneficial owner of approximately 9.9 percent of the common stock of GM. Tracinda Corp. is owned by Kirk Kerkorian.
In his past business career, York spent 30 years in the automotive industry, having worked at General Motors, Ford and Chrysler. He spent 14 years at Chrysler Corp. in a variety of executive positions and served as executive vice president and chief financial officer of Chrysler from 1990 to 1993 and as a director from 1992 to 1993.
York currently serves as a director of Tyco International Ltd., Apple Computer, Inc. and Exide Technologies, Inc. He has been chief executive officer of Harwinton Capital Corp., a private investment company that he controls, since 2003.
From 1993 to 1995 he was senior vice president and chief financial officer of IBM Corp. and served as a member of IBM's Board of Directors in 1995. From 1995 to 1999, he was vice chairman of Tracinda Corp. York was chairman and chief executive officer of Micro Warehouse, Inc., a reseller of computer hardware, software and peripheral products from 2000 until 2003. He also served as a director of MGM MIRAGE from 1995 to 2005.
Wagoner also announced that GM Board accepted the resignation of E. Stanley O’Neal, chairman and chief executive officer of Merrill Lynch & Co., Inc. In submitting his resignation, O’Neal cited increased time demands resulting from the expanded schedule of GM board meetings which were difficult to accommodate given his responsibilities at Merrill Lynch, as well as limits on his ability to act as a GM director because of potential conflicts with matters in which Merrill Lynch is involved.
“Stan O’Neal has been a great asset on the GM Board and to General Motors management over his 5 years of service as a director,” Wagoner said. “We are grateful for his many positive contributions to General Motors and wish him the best.”
General Motors Corp. (NYSE: GM), the world’s largest automaker, has been the global industry sales leader for 75 years. Founded in 1908, GM today employs about 327,000 people around the world. With global headquarters in Detroit , GM manufactures its cars and trucks in 33 countries. In 2005, 9.17 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall. More information on GM can be found at www.gm.com.
How long before another brand is killed?
Disciple
Joined: Nov 2000
Posts: 1,479
Re: York on GM Board.
As an outsider and shareholder I think it's a good thing. I think it wil give just a smidge more leverage on the UAW.
I don't expect any brands to get cut though I wouldn't miss Saab for a moment. Nothing there that can't be covered by a Saturn, Opel, Cadillac, Buick or Pontiac.
I don't expect any brands to get cut though I wouldn't miss Saab for a moment. Nothing there that can't be covered by a Saturn, Opel, Cadillac, Buick or Pontiac.
Registered User
Joined: Sep 2003
Posts: 2,370
From: Germany
Re: York on GM Board.
Originally Posted by poSSum
As an outsider and shareholder I think it's a good thing. I think it wil give just a smidge more leverage on the UAW.
I don't expect any brands to get cut though I wouldn't miss Saab for a moment. Nothing there that can't be covered by a Saturn, Opel, Cadillac, Buick or Pontiac.
I don't expect any brands to get cut though I wouldn't miss Saab for a moment. Nothing there that can't be covered by a Saturn, Opel, Cadillac, Buick or Pontiac.
there is no reason to remove of it...
Disciple
Joined: Nov 2000
Posts: 1,479
Re: York on GM Board.
Originally Posted by NewbieWar
but saab isnt worth any money, its not a healthy brand, its worth more to GM then it is anywhere else, it has very little asset, and its accually being mutated into a premium opel brand, which is nice...
there is no reason to remove of it...
there is no reason to remove of it...
Registered User
Joined: Nov 2000
Posts: 2,712
From: Ontario
Re: York on GM Board.
Originally Posted by NewbieWar
but saab isnt worth any money, its not a healthy brand, its worth more to GM then it is anywhere else, it has very little asset, and its accually being mutated into a premium opel brand, which is nice...
there is no reason to remove of it...
there is no reason to remove of it...
Back to the selling off of Saab: it's probably too well integrated into the rest of GM to be able to sell it. But that doesn't mean it's worth keeping. Even if its cars are basically clones of other GM models, there's still a lot of engineering dollars, marketing dollars, and hassles of keeping a dealer network happy for basically nothing in return. It's a distraction and a drag that a new, leaner GM does not need at this time.
Registered User
Joined: Dec 1969
Posts: 1,911
From: Southern California (SoCal)
Re: York on GM Board.
There could be a lot of downside pressure put on GM stock in the coming months since GM decided cut its dividend which could cause alot of institutional investors to dump the stock.
Registered User
Joined: Mar 2000
Posts: 162
From: St. Louis, MO
Re: York on GM Board.
When's the last time you saw a commercial for Saab?
Actually I do remember one. It said Saab was started by aircraft engineers.
Then at the end it's tag line was something like' Saab, built by airplane engineers'
The whole commercial I am thinking WTF does 5 guys who used to build or fly planes have to do with cars.
Assuming I get over that fact there's a lot more then 5 guys running the company now so again WTF do 5 guys who used to build airplanes have to do with cars. I doubt they are still in charge of the company.
On top of that the 5 guys are probably retired or long since DEAD!
I usually don't remember commercials but I remember that one because of how stupid it was.
Good god GM can you come up with any more illogical stupid commercials then that. WAIT, that wasn't a challenge I can see the marketing department already winning that one.
"Saab designed down the road from the guy who owned a dog who once road on a boat"
I mean that's about how stupid that commercial was.
Now I just went to Saabs site and instead of being able to see the cars, there was this stupid banner covering the cars. I had to wait and wait for this big banner to disappear that said "Saab made from jets"
Really? Like you recycled some old migs or what?
Saab's marketing sucks, the only one who ever drove a Saab was Seinfeld.
Hell even the cars name makes me cry.
Since it's to integrated to get rid of I would at least change the name over here on the next model redesign and market it against Lexus or something.
They do have some ok cars, but then they try to make a station wagon out of every one. Good grief. So then I see 2.8L turbo, but with only 250HP.
Are you kidding me. A 2.0L EVO makes 270HP out of a 4 banger. What a weak engine. Can't compete with Lexus with such weak engines. You should be making 250HP NA.
So in summary.
Change your sucky marketing.
Advertise more with some good ads.
Get rid of the 9-2, 9-3, and 9-5 station wagon looking things and Pick ONE station wagon if you really think you need one.
Keep the 9-3 and move the AWD option to it and make at least a 275HP engine available to compete with Lexus
Keep the 9-5 and but give it something with at least 300HP to compete with BMW. If the AWD will fit that frame throw it in there as an option
Keep the 9-7 to also compete with Lexus
Throw away the rest of this crap.
Merge it in to one of the other brands on the model change. Right now Cadillac is probably the closest performance/luxury brand you have here although I don't know if thats the best fit.
Actually I do remember one. It said Saab was started by aircraft engineers.
Then at the end it's tag line was something like' Saab, built by airplane engineers'
The whole commercial I am thinking WTF does 5 guys who used to build or fly planes have to do with cars.
Assuming I get over that fact there's a lot more then 5 guys running the company now so again WTF do 5 guys who used to build airplanes have to do with cars. I doubt they are still in charge of the company.
On top of that the 5 guys are probably retired or long since DEAD!
I usually don't remember commercials but I remember that one because of how stupid it was.
Good god GM can you come up with any more illogical stupid commercials then that. WAIT, that wasn't a challenge I can see the marketing department already winning that one.
"Saab designed down the road from the guy who owned a dog who once road on a boat"
I mean that's about how stupid that commercial was.
Now I just went to Saabs site and instead of being able to see the cars, there was this stupid banner covering the cars. I had to wait and wait for this big banner to disappear that said "Saab made from jets"
Really? Like you recycled some old migs or what?
Saab's marketing sucks, the only one who ever drove a Saab was Seinfeld.
Hell even the cars name makes me cry.
Since it's to integrated to get rid of I would at least change the name over here on the next model redesign and market it against Lexus or something.
They do have some ok cars, but then they try to make a station wagon out of every one. Good grief. So then I see 2.8L turbo, but with only 250HP.
Are you kidding me. A 2.0L EVO makes 270HP out of a 4 banger. What a weak engine. Can't compete with Lexus with such weak engines. You should be making 250HP NA.
So in summary.
Change your sucky marketing.
Advertise more with some good ads.
Get rid of the 9-2, 9-3, and 9-5 station wagon looking things and Pick ONE station wagon if you really think you need one.
Keep the 9-3 and move the AWD option to it and make at least a 275HP engine available to compete with Lexus
Keep the 9-5 and but give it something with at least 300HP to compete with BMW. If the AWD will fit that frame throw it in there as an option
Keep the 9-7 to also compete with Lexus
Throw away the rest of this crap.
Merge it in to one of the other brands on the model change. Right now Cadillac is probably the closest performance/luxury brand you have here although I don't know if thats the best fit.
Registered User
Joined: Apr 2003
Posts: 547
Re: York on GM Board.
so they get a guy from Tyco?
what the F is wrong with them????
they need to get their heads out of their ***** and stop thinking like they are retarded.
A high school Economics student could probably do better than anyone who would be on their list of top 10.
what the F is wrong with them????
they need to get their heads out of their ***** and stop thinking like they are retarded.
A high school Economics student could probably do better than anyone who would be on their list of top 10.
Registered User
Joined: Apr 2003
Posts: 547
Re: York on GM Board.
IMHO "born from jets" would impress me if they had a car that did.
Lets see, the last time I was impressed by a saab? let me get back to you when it happens.
hell even the name is stupid. Like snob without the N. I drive a SOBBB
Lets see, the last time I was impressed by a saab? let me get back to you when it happens.
hell even the name is stupid. Like snob without the N. I drive a SOBBB
Registered User
Joined: Jun 2001
Posts: 4,600
From: Pewee Valley, KY
Re: York on GM Board.
Originally Posted by 5thGen
IMHO "born from jets" would impress me if they had a car that did.
Lets see, the last time I was impressed by a saab? let me get back to you when it happens.
hell even the name is stupid. Like snob without the N. I drive a SOBBB
Lets see, the last time I was impressed by a saab? let me get back to you when it happens.
hell even the name is stupid. Like snob without the N. I drive a SOBBB
http://www.saabusa.com/saabjsp/about/heritage.jsp
In case you want to learn about something before you put it down.
BTW the SAAB 9-3 has an available 250 hp Turbocharged DOHC V6 and 6 speed manual. It also has probably the nicest interior of ANY GM car put out when it debuted in 2003.
Registered User
Joined: Mar 2000
Posts: 162
From: St. Louis, MO
Re: York on GM Board.
I like these quotes from saabs page. If this is my impression of their branding there are probably more people out there thinking the same thing.
Maybe somebody can put two together and figure out it's all about public perception and thiers sucks.
so they know less about cars then even an average citizen that actually drives one?
You have a 2.8L turbocharged v6 and it only makes 250HP. Thats NA territory. 2.0L Evo's make 275HP with 4 cylinders. Exactly what did you contribute? Did you show everyone what not to do?
Your 3.9 makes 240HP. Why are you wasting money producing another whole engine when one will suffice?
So you admit they're dead? Then how exactly are they relevant to todays company. They sure as heck can't influence any designs, although considering they worked on planes and didn't have a license it's probabaly for the best unless you want tail fins and wings on your cars.
So you have 16 dead guys who designed jets in another company that isn't even affiliated to you.
No you build f-15's and 747's
Maybe somebody can put two together and figure out it's all about public perception and thiers sucks.
And the very first Saab car was designed and hand built by 16 aeronautical engineers. Only one of which had a driver's license.
Over the years, our designers' contributions to the automotive industry have been as significant as turbocharged technology
Your 3.9 makes 240HP. Why are you wasting money producing another whole engine when one will suffice?
Saab was founded by 16 aircraft engineers and their spirit lives on
today the aircraft manufacturer, Saab AB, is a separate, unaffiliated company,
After all, when you used to build jets, you don't build just another vehicle.
