Too bad Steve Girsky wasn’t on the General Motors board earlier. 
Maybe it wouldn’t have collapsed. Today, the United Auto Workers has announced it chose Girsky – a former Morgan Stanley auto analyst who briefly advised former GM CEO Rick Wagoner and recently helped expedite the sale of Saturn to Roger Penske – as its representative on the board. A UAW employee health-care trust will own 17.5% of GM when it emerges from Chapter 11 bankruptcy protection. John Stoll of WSJ reports that Girsky has been advising UAW President Ron Gettelfinger in negotiations with America’s ailing auto makers; Gettelfinger clearly liked Girsky enough to put him on the GM board. When I covered the auto industry in the mid 1990s, Girsky was the smartest investment banking analyst around; he was also one of a few analysts who visited automotive suppliers as part of his research into the health of the industry. In other words, he was far more than a desk-bound number cruncher – he went out and talked to people who made cars and car parts. It’s telling that he’s now on the board of a supplier, Dana Corp. Stoll says he’ll probably have to quit that post if he joins GM. If GM’s various new owners populate the board with experts like Girsky, the company may have a future.
3 Comments to Girsky To Join GM Board
Felix ChesterfieldJuly 28, 2009
Will GM’s bankruptcy affect a site like this for truck and auto parts ?
Gabriella SternJuly 28, 2009
While I don’t know about this particular site, I do know GM has emerged from Chapter 11 bankruptcy protection.
June 23, 2009
MS Stern,
You couldn’t be more wrong with your assertion that Stephen Girsky will be an asset to the GM board. He single handidly, along with the Obama task force, has wiped out thousands of auto dealers and will be solely accountable for the loss of over 100,000 jobs. GM is closing down our dealership which has earned a net profit of over $12,000,000 in the last six years, leads the state in CSI, customer satisfaction index, is highly capatailized and owns outright, debt free, the most modern facility in the city. I announced to our people last week that Girsky and Obama are responsible for all 80 of them losing their jobs. This is anti-American, illegal and against every principle that this country was found on.
Re-think your position please, you are dead wrong.