Investor: GM must dump at least two brands

Billionaire investor Kirk Kerkorian signaled his intent Tuesday to reacquire the 12 million shares in General Motors he sold last month -- and then buy 12 million more pending evidence that GM and the UAW can craft a more aggressive plan to fix the automaker, reports the Detroit News. Meanwhile, Kerkorian right-hand man Jerry York wants to see GM and the UAW move more quickly cut costs, sell assets, dump at least two brands and cut salaries. York suggested it might be wise to drop Saab and Hummer. He says GM is burning $24 million in cash per day, meaning it would expend its $25 billion stash in 1000 days, or less than three years.