Tracinda turns down GM board seat offer

CNN/Money reports that Kirk Kerkorian's advisor, Jerry York, will not join GM's board after all.
The New York Times reported Thursday that the offer of a board seat for York came with conditions, including a requirement that Kerkorian agree to not increase his stake in GM. It would appear that some or all of the strings attached to GM's offer were unacceptable to Tracinda.

It's likely that we haven't heard the last of this story…