Kirk Kerkorian has amassed nearly 10% of GM's stock and started pushing some serious buttons today. GM will cut the CEO's pay by 50% and top VPs by about 30%. GM also cut it's dividend from 50 cents to 25 cents, the first cut in 11 years. The stock didn't drop much though because the dividend cut has been largely anticipated. Other cuts included the axing of guaranteed pensions for non-union employees and health care cuts for retirees.

I think it is a good move to force executive cuts in order to garner similar union concessions. I also think it is a good move to make cars that have some semblance of style or reliability. I can't imagine buying a GM car, except maybe a Corvette when I have my mid-life crisis. Blah.