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After Jerry York failed to obtain a seat on GM’s
board in December, and then Kirk Kerkorian’s “tax-related” sell-off
of shares, one might assume that York’s impassioned
speech from last week was the last word on the two men’s flirtation with control of the auto giant. That may not be
the case.
Kerkorian is said to still have the option to file a proxy ballot by Feb. 6th, by which he could
nominate one or several people to a board seat. It then becomes a question of whether he can get other large
shareholders to step in behind him, which might not be that difficult now that the stock’s NAIAS-related
bump has all but disappeared and rumors of dividend cuts continue to swirl.