May 8, 2003

Var Business: The Most Dangerous Man in the Business

My spin: Micro Warehouse is the 3rd largest retailer (I guess after CDW and Dell) and is a force to be reckoned with and respected.

News Clip: Jerome York, a business legend, is finally a CEO.

Jerome B. York is not afraid to take on anyone. Just ask former IBM chairman and CEO Lou Gerstner or former executives at Chrysler Corp. prior to its merger with Daimler-Benz in 1998. York, who as CFO at both Chrysler and later IBM, was known as a legendary cost-cutter at both companies. At IBM, York was loved by Wall Street and by customers but feared by employees. Though recruited by Gerstner in 1993 as IBM's CFO, York ultimately took on his boss regarding how to approach acquisitions. The showdown, of course, left York on the short end of the stick. York moved on to join financier Kirk Kerkorian to run Tracinda Corp., which was Chrysler's largest shareholder at the time. Tracinda made two failed attempts to acquire Chrysler that, by some accounts, could have left York in charge of the third-largest automaker. (full story)

0 comments