Posted on 06/30/2006 1:08:11 PM PDT by Mikey_1962
DETROIT -- General Motors convened an emergency board meeting Friday to discuss a proposal by shareholder Kirk Kerkorian to form an alliance between GM and Renault-Nissan, say two sources close to the board.
The hastily arranged meeting suggests that GM's board is treating Kerkorian's proposal with urgency.
A GM spokesman could not immediately be reached for comment.
In a securities filing, Kerkorian says that the Renault-Nissan alliance is receptive to buying "a significant minority interest" in GM. The filing also says that Kerkorian's investment company, Tracinda Corp., of Beverly Hills, Calif., has discussed the matter with Carlos Ghosn, CEO of Renault and Nissan.
Kerkorian, who controls 9.9 percent of GM stock, sent a letter to GM Chairman Rick Wagoner on Friday "in which Tracinda proposed that General Motors' Board of Directors establish a committee to immediately and fully explore, together with management, a possible opportunity to join the partnership-alliance between Renault, S.A. and Nissan Motor Co., Ltd.," the filing said.
(Excerpt) Read more at autonews.com ...
Maybe this is another move in that direction.
Grow.
Sad. 30 years ago, it was filled with more PhD's than Los Alamos.
I had a trouble-free Sentra for eight years until it was stolen and found trashed in Mexico. No suspects have been arrested.
I now have an Altima. Mine was one where there might be a problem with the 0-rings. They extended my warranty and are doing three checks on the car. If needed, they will replace the engine.
I am happy with Nissan.
'Chevrolet' has always sounded French anyway.
Hmm. 2006-30=1976. Not the summit of GM product design, IMHO. If those pointy heads had anything to do with that Chevette era, then good riddance.
Then I made the mistake, of picking a piece of paper off of the ground, and the whole place shut down for two days, for union grievances.
Tell me again why anyone would buy GM? I forget.
I've heard that the UAW is placing their job bank workers in there now. Really.
<< shudder >>
Perhaps we could agree on this instead: "Tell me again why anyone would buy UNION?"
I love my 2000 Silverado. Only new car I've ever bought. Most reliable piece of machinery I've had other than my 1948 Ford Tractor.
Welll...most reliable is the wrong term.
Maybe, it is better to say, the most easiest to fix on the side of the road, with a coat-hanger.
I actually drove it more than five hundred miles, with a coat-hanger substituting for the coil wire.
This would mean that GM would be partially French, though.
'Chevrolet' has always sounded French anyway.
Actually Louis Chevrolet was Swiss
As does Cadillac, Escalade, DeVille, Bonneville, LeMans, Gran Prix, LeSabre, Lucerne, Lacrosse, etc.
Well, I would not doubt it. Japan has practiced unfair trade practices with our government doing noting for over 20 years. They flood our market with cars (cars which are very cheap-they don't make hardly any money on them), and then sell cars for more money back home . They can sell their cars for what they want. They have kept the competition out for years-with fake crappy safety checks, and other red tape nonsense. Oh, Did I mention the Japanese government subsidizes their manufacturing base-I guess they think it is important unlike the American government and all you Nissan lovers out there.
GM already sold off much of GMAC to clear the decks for bankruptcy or to show brinkmanship with the UAW; maybe both.
And they just got done putting $5 BILLION in renovating it.
Have you been in it lately? It is really impressive. But for $5B you think the engineers could have gotten bigger cubes.
OK. Germanfrench.
Nope, not since 1999.
As Dandy Don Meredith used to say, "Turn out the lights, the party's over..."
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