Jerry York's Speech Concerning General Motors Corporation

I highly recommend reading in the Financial Times the Full text of Jerry York’s speech (subscription might be required).

York eloquently provides an roadmap that GM should follow to begin to address its problems. It is a long article, but well worth the read. Even if you are not interested in the GM situation, this article is a great case study on how to attack problems in a troubled company.

If I saw GM beginning to implement York's ideas in earnest, I would likely exit my short position and potentially go long the stock. His ideas are that good. But it takes a strong management team to recognize that there are no sacred cows and be willing to me significant shifts in business strategy.

Time will tell if GM's management has sufficient courage. In the meantime, I remain short GM stock.