GM can bounce back from this bankruptcy, IF it truly gets religion. Even better would be for the new board to have an aggressive approach. Yesterday, CEO Fritz Henderson told me he's heard from many business leaders who want to join the GM board. Now, due to a mandate from the White House, GM is remaking its board with half the members coming from outside the company. He wanted GM to move quicker to unlock its value, cut brands, streamline. After a short stay on the GM board, a frustrated York resigned. Yes, the advisor to billionaire investor Kirk Kerkorian joined the GM board only after Kerkorian took such a large position in GM he had enough leverage to get a spot at the table.
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