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Jerry York, former exec of Chrysler and General Motors, dies at 71

Jerome "Jerry" York, the former CFO of Chrysler and General Motors, died today at a hospital in Pontiac, Michigan after succumbing to a brain aneurysm he suffered late Tuesday evening.

Kerkorian's boy says Ford should offload Mercury, Volvo

Every villain needs a sidekick, and if there were ever a villain character in the soap opera that is the North American auto industry, it's 91-year-old billionaire Kirk Kerkorian who recently revealed that his private holding company, Tracinda Corp., was buying up Ford stock like he knew something the rest of us didn't. Kerkorian's sidekick in this saga is Jerry York, an ex-auto exec who the b

Kerkorian cuts stake in General Motors

Billionaire investor Kirk Kerkorian announced today that his investment firm Tracinda Corp. had cut its stake in General Motors from 9.9% to 7.4% by selling $462 million worth of the automaker's stock. That amounts to a sell off of 14 million shares at $33 per share.

BREAKING: York quits GM board, Kerkorian won't buy more GM stock

"Screw you guys, I'm going home." A phrase made famous by Cartman from South Park but one that we find so apt for news coming out of General Motors this afternoon. Royally irked over the ending of alliance talks with Renault/Nissan, billionaire investor Kirk Kerkorian has announced that he won't buy an additional 12 million shares of GM stoc

BREAKING NEWS: Kerkorian may buy up more of GM

Kirk Kerkorian may buy up to 12 million additional shares of GM stock, according to Automotive News. The billionaire investor would need approval from the Securities and Exchange Commission for the deal because it would send his company, Tracinda Corporation, well over 10 percent ownership of GM common stock.

Iacocca to pen new book, address auto industry

Retired Chrysler chairman (and Snoop Dogg homey) Lee Iacocca will be releasing a book in approximately one year, tentatively titled "Where Have All the Leaders Gone?". It's said to cover several topics, among them the state of the American auto industry and the threat that the US manufacturing economy faces from China and India.

GM says it won't be dropping brands anytime soon

Saab and HUMMER won't be hitting the Orphan Car Show anytime soon, says Rick Wagoner. General Motors' top guy told shareholders yesterday that the company won't be taking the advice of new board member Jerry York, billionaire investor/GM stakeholder Kirk Kerkorian's right-hand man. York made waves in the industry just before he joined the board, when he gave a speech suggesting that GM axe the Saab and HUMMER brands, among other suggestions.

GM defends HUMMER, Saab brands

In its report on first-quarter worldwide sales, General Motors made a point of highlighting the success of HUMMER and Saab as part of its 4.4 percent growth overall. The two brands have attracted criticism in recent months, notably from board member Jerry York who suggested in January that the company dump both marques.

Jerry York: Saab, Hummer good for GM after all

Tracinda's Jerry York appears to have changed his tune about what General Motors needs to do in order to get back on track, according to Bob Lutz. Kirk Kerkorian's right-hand man made headlines in January, calling for GM to axe Saab and possibly HUMMER to focus on the automaker's core brands... but now, Lutz says, York acknowledges that he spoke too soon.