Who's in GM's Driver's Seat?

Spooked by GM's losses, the directors are taking charge and considering emergency measures

TALK ABOUT JOB STRESS. WHEN General Motors chairman Robert Stempel, 59, fell ill and was taken to a Washington hospital last week, doctors gave an official diagnosis of "elevated blood pressure." Given the problems he's been having at the office, that was no surprise. The world's largest industrial corporation (1991 revenues: $123 billion) is piling up some of the largest financial losses in corporate history, an estimated $16.5 billion on North < American auto operations (more than half the GNP of Ireland) for the three- year period of 1990-92. To avert disaster, the company is struggling to close 21 of its...

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