Jerome York (left), an adviser to Kirk Kerkorian and former Chrysler Corp. chief financial officer called on General Motors to step up efforts to stanch its mounting financial losses, Reuters Tom Brown reported.He urged the ailing automaker to sell off or close noncore businesses and assets and halve its $2 annual dividend, which costs the company about $1.1 billion per year. “When a company is in deep trouble — and make no mistake, GM is at the present time — there are only so many hours in the day for management to effectively focus on and fix things,” York said.

Earlier, GM Chief Executive Rick Wagoner (pictured right, with Vice Chairman Bob Lutz on the right) told reporters the struggling automaker will be more “judicious” in 2006 in offering dealers generous sales incentives that boosted 2005 car sales.

“I have had regular conversations with Kirk, not this year, and with Jerry,” Wagoner also said. “I think they’re very well informed on what our strategies are, as other key investors are.

“And it’s my sense that there’s a lot of agreement on strategies. If anyone says can we go faster to get this business turned around, I say ‘Amen.’. That’s what we’re working on every day,” Wagoner said.

Meanwhile, chief economists for GM, Ford Motor Co. and Chrysler Group projected between 16.7 million and 16.8 million light vehicles will be sold this year. About 16.9 million vehicles were sold in 2005, making it one of the strongest sales volume years on record. (Photos: REUTERS)