GM to Face Shareholders After Tough Year

"I think they're going to tell shareholders they're restructuring, right-sizing and making it competitive. But I think in reality they don't have answers," said Peter Morici, an economist and professor at the University of Maryland.

Morici said GM needs to explain to shareholders what percentage of the market it can reasonably sustain and then say how it will align its production and brands to meet that need. GM also needs to cut its bureaucracy and its salaries, from the executive level down to hourly workers, he said.


I say start with Wagoner and Lutz who, quite clearly, aren't doing a whole heck of a lot to earn their circa 5 and 3 million dollar salaries, respectively.


LINK: http://news.yahoo.com/s/ap/20050605/ap_on_...i_ge/gm_outlook