Regarding the Sept. 28 story, "GM Unit Sues to Close Perot's Firm":
A few years ago, General Motors executives had serious problems maintaining market share. They bought Electronic Data Systems thinking all they had to do was buy H. Ross Perot's brains and those of his employees and all would be fine. They didn't think it was necessary to listen to the advice they got. So they got rid of Perot by paying him millions more. They seemed to think that if he went away, their problems would go with him.
GM is still having problems maintaining market share. Perot is still giving them advice. They still aren't listening.
Not long ago, the U.S. Postal Service officials wanted Perot's help. We don't know if they will listen to the advice Perot will give them, but if GM has anything to do with it, the Post Office won't get the advice in the first place.
Perot is in the enviable position of getting all that money for not doing anything, and GM is getting nowhere with all of its money. Maybe if we wait long enough, Perot will own GM outright, and then maybe we will see GM regain lost market share.
Glad I don't own any GM stock. Wish I had bought EDS 10 years ago. Sigh.
One last question. Are GM stockholders as blind as GM management seems to be?