• Jun 19, 2009
Now that Saturn is tentatively going to Roger Penske, Stephen Girsky has got some free time on his hands. Girsky, who was one of Rick Wagoner's advisors for a brief time and recently helped GM select Penske as a buyer for Saturn, has been around the automotive block analyzing the industry for Morgan Stanley as well as working at Centerbridge Partners in recent years. His tenure with Centerbridge Partners was during the time that this equity concern was trying to snatch Chrysler from the clutches of Daimler.
It has been announced that Girsky will get a seat on the board of the new General Motors to represent the UAW, whom Girsky helped with the dead-end GM/Chrysler deal last fall. Having at least one person upstairs at the RenCen who actually keeps an eye on the car business is a good thing, even if Girsky has professed his admiration for the way Ford does things in the past. OEM Supplier Dana Corporation also pays Girsky over $100,000 per year to sit on that company's board. The GM board seat comes in exchange for the concessions that retirees have made in an attempt to keep the wounded, lumbering mammoth that is General Motors from fossilization.

[Source: Automotive News - sub. req'd]


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    • 1 Second Ago
  • 7 Comments
      • 5 Years Ago
      He looks like the guy who just ate the last piece of pumpkin pie at the Thanksgiving feast.
      • 5 Years Ago
      Dana, really, to sit on the board and what, watch it go in the toilet three or more times. When was the last time Dana showed any profit.

      This guy is a nothing exept a bureacratic "Yes man" to make sure OBAMA HUSSEIN OBAMA gets his socialist agenda covered while making cars noone wants.

      Signed - Changed for the worse from a Non-Citizen Muslim
      • 5 Years Ago
      the fact that the UAW is going to be around after all this just means it will take that much longer (if even possible) to turn GM around.

      I'd love to know what the guys' total take home pay is... we know he gets 100K for the seat, but you know there is more, probably a lot more.

      With unemployment so high (even I'm out of a job now) if you happen to have a job at GM you stfu, and do whatever they tell you to do. I know I would if it meant a steady income vs no income. If you happen to not like it, go find employment elsewhere, its (supposed to be) a free market system right? To bad that definition is being raped here over and over thanks to Uncle Sugar.

      • 5 Years Ago
      i respect any man who gives big toothy grins in pictures. It's way more fun than trying to look cool or serious. I give the biggest smile I can for my driver's license photos and then when people have to check ID they always smile.
      • 5 Years Ago
      "...in an attempt to keep the wounded, lumbering mammoth that is General Motors from fossilization."

      Ha!
      • 5 Years Ago
      That is the ugliest woman I have ever seen.
      • 5 Years Ago
      "even if Girsky has professed his admiration for the way Ford does things in the past."
      As opposed to how GM and Chrysler run operations???
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