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GM board to consider dividend and pay cuts

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GM board to consider dividend and pay cuts, seat for York

DETROIT -- General Motors’ board on Monday will consider plans to cut the automaker's dividend by as much as 50 percent, cut the salaries of top executives and give a board seat to Jerry York.

According to sources familiar with GM's plans, the board is considering a number of proposals originally put forth by York. He represents Las Vegas billionaire Kirk Kerkorian, who owns 9.9 percent of GM’s shares.

can someone post the link?

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GM board to consider dividend and pay cuts, seat for York

DETROIT -- General Motors’ board on Monday will consider plans to cut the automaker's dividend by as much as 50 percent, cut the salaries of top executives and give a board seat to Jerry York.

According to sources familiar with GM's plans, the board is considering a number of proposals originally put forth by York. He represents Las Vegas billionaire Kirk Kerkorian, who owns 9.9 percent of GM’s shares.

can someone post the link?

kinda old news... it would save GM about .5 billion a year, but realistically why would any of the investors keep their money in it...

this would have the price of the stock fall off... and kirk would be leveraged enough to purchase the whole company... its accually kind of brillant now that i think of it...

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