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GM Prepares for Battle with Kerkorian

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GM Prepares for Battle with Kerkorian

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General Motors has retained two investment banks as the automaker attempts to protect itself from a potential proxy fight from its largest individual shareholder, Kirk Kerkorian, according to a report published Wednesday.

Citing people familiar with the situation, The Detroit News reported that the automaker hired Goldman Sachs (Charts) and Morgan Stanley (Charts) and began devising other safeguards against Kerkorian while GM discussed a possible alliance with Renault-Nissan.

Read "GM reportedly bracing for Kerkorian fight" @ CNNMoney

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This is going to be very interesting to watch unfold. So Rick and Bob had an idea what Kirk was really up to and spent the 90 days shoring up defenses. Good for them. I am sure Kirk isn't a stupid man, but he has got to figure that Lutz is onto him; after all, didn't Chrysler (Lutz) already go down this road once before?

I'd like to voice what I really think of this decayed old dinosaur, but Fly doesn't want us to use any unseemly adjectives on this board.

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If Kirk is looking for more money, my question would be about what he plans on doing with it? Does he want to line his casket with it or something?

I suppose he might have a good 20 years ahead of him. :rolleyes:

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Guest buickman

Would like to know how much GM is paying these banks for advice? With Board representation it's no surprise that these institutions are once again bleeding the golden goose.

Buickman

the voice...

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Can't GM just hire an assassin to take this senile old fool out?

206224[/snapback]

Conflict of interest...

But I wonder if our PayPal account has some cash so we can just hire one.

Hell, we all ought to just go to the next shareholders meeting, walk up behind Kirk and give him a good ol' scare... maybe make his ticker lose a few cogs :scratchchin:

...Everybody loves surprises.

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good news, GM has acted quickly to stop kerkorian from making any strong offensive moves. adding protection to the board was necessary, the less allys Kirk has the better

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This old codger needs to just retire to Key West or Palm Springs and be done with it. He pulled the same stunts with Chrysler and failed, now he's gearing up for round two, this time with GM. Five bucks says he loses this one as well.

This guy has more wrinkles than Kansas has tractor pulls.

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Edited by mustang84

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would love to see the general kick this guys butt. he didn't care about the american worker. he only cared about manipulating the situation for a profit. he was euphoric with the thought of the nissan deal pushing his stock portfolio through the roof. what an old fool. wipe him out, general.

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