GM’s (NYSE: GM) CEO Dan Akerson used the car company’s annual meeting to make several senseless comments. The first was that politician in Washington will need to end gridlock about how the government should stimulate the economy while cutting costs. His conclusion about that comes a little late. He also expressed optimism about earnings of GM’s Europe operations.He did not say much about the union resistance an objection of some countries there about lay-offs.
Finally, he suggested Canadian auto workers should take pay cuts. “Canada is the most expensive place to build a car in the world right now,” Akerson said. Probably, the CAW already knows that.
Douglas A. McIntyre