Wall Streeter Joins Top GM Ranks

By: Associated Press
By: Associated Press

High-profile Wall Street auto analyst Stephen Girsky is joining General Motors Corp. as a full-time adviser, the world's largest automaker said Monday.

Girsky will advise GM chairman and chief executive Rick Wagoner and chief financial officer John Devine starting Aug. 1. He most recently served as managing director and senior analyst of Morgan Stanley's auto research team.

Girsky also has served as managing director of the auto research group at PaineWebber and as an analyst in the treasurer's office at GM. Institutional Investor magazine has ranked Girsky the top automotive analyst for 12 consecutive years.

GM, which is scheduled to report second-quarter earnings Wednesday, lost $1.1 billion in the first quarter. The automaker has been struggling with falling market share, although it rebounded somewhat in June with an incentive program that lets all buyers pay the employee price. GM has extended the program to Aug. 1.

Girsky has been critical of the program. In a note to investors, Girsky said, "the longer these programs last, the less successful they will be."

GM shares were up 33 cents, or nearly 1 percent, to $37.07 on the New York Stock Exchange.

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