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Letter "J" » John Novak Quotes
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«They were running out of overtime money. They need to go back to the RTM and get more money.»
Author: John Novak
«We think ultimately they will cut the dividend. It won't be because York is requesting it, but rather it's a way that they can send a message to the UAW employees that ultimately the management and shareholders are sharing in their pain.»
Author: John Novak
«There is just considerable and growing uncertainty surrounding GM and Ford Motor Co. (F.N: Quote , Profile , Research ), and that ripples through the industry.»
Author: John Novak
«It's hard to imagine what the upside catalyst is, what specifically is going to change things and lead GM to a turnaround. The list of negatives is so long, and you look at the positives and there's just not enough there to have any confidence at all. ... It probably will get worse before it gets better, so it's possible that GM will be a buy again someday, but that day's a long way off.»
Author: John Novak
«I think what you'll see with York on board is a greater sense of urgency to drive changes and accelerate restructuring actions.»
Author: John Novak
«There will probably be more changes, and they will be quicker. You'll probably see a more aggressive restructuring plan.»
Author: John Novak
«They did everything they could to present a good financial picture. In some cases, they bent the rules to do it.»
Author: John Novak
«There is a lot of restructuring to do and it remains to be seen whether their actions will pan out.»
Author: John Novak
«It will send a message to the UAW that shareholders are also sharing in the pain, and the union members are not the only ones being asked to make concessions.»
Author: John Novak
«A strike would be a cataclysmic event. If there was a widespread strike, this is a worst-case scenario, GM probably has 10 or maybe 15 weeks of cash.»
Author: John Novak
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