Girsky Named to GM Board
One-time Car Czar candidate Steve Girsky has been elected to GM’s board as the sole representative of the UAW’s VEBA trust fund, reports Automotive News [sub]. Girsky had previously worked on the spin-off of Saturn, which was eventually purchased by Roger Penske. He has also worked at Morgan Stanley, and advised the UAW during the ill-fated GM-Chrysler merger talks. Too bad the Harvard B-School boy didn’t end up at Ford; back in the day, Girsky loved him some Blue Oval . . .
From TheStreet.com in June ’01:
The Morgan Stanley analyst says that if he had to own an auto stock, it would be Ford ( F Quote). “Basically, it’s the most profitable auto company in North America. You’ve got a lot of restructuring in [the company’s European divisions] that’s gaining traction, you have one of the strongest balance sheets in the business, big dividend yield, and [the company is] buying back a lot of stock.” In addition, Girsky notes, Ford has the world’s largest luxury vehicle business — a segment that typically holds up better when sales weaken.
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