Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

GM board holds emergency meeting Kerkorian proposes GM, Renault-Nissan alliance
Autonews ^ | 6/30/06 | Mikey_1962

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 ...


TOPICS: Business/Economy; US: Michigan
KEYWORDS: automakers; generalmotors; kerkorian; nissan; renault
Navigation: use the links below to view more comments.
first previous 1-2021-4041-54 next last
To: brownsfan
Kerkorian was trying to get control of GM, to bust off GMAC, BTW. GMAC is going gangbusters, GM has all the liability.

Maybe this is another move in that direction.

21 posted on 06/30/2006 1:46:56 PM PDT by patton (...in spit of it all...)
[ Post Reply | Private Reply | To 17 | View Replies]

To: brownsfan
So, how would you advocate eliminating pension debt?

Grow.

22 posted on 06/30/2006 1:48:46 PM PDT by patton (...in spit of it all...)
[ Post Reply | Private Reply | To 20 | View Replies]

To: brownsfan
The GM Tech Center in Warren, MI, is just about abandoned - might as well turn it back into farmland.

Sad. 30 years ago, it was filled with more PhD's than Los Alamos.

23 posted on 06/30/2006 1:52:15 PM PDT by patton (...in spit of it all...)
[ Post Reply | Private Reply | To 20 | View Replies]

To: Mikey_1962

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.


24 posted on 06/30/2006 2:01:30 PM PDT by sine_nomine (Marvel at the Senate's No Mexican Left Behind Bill (wit cloned from M. Steyn))
[ Post Reply | Private Reply | To 14 | View Replies]

To: B Knotts
This would mean that GM would be partially French, though.

'Chevrolet' has always sounded French anyway.

25 posted on 06/30/2006 2:03:40 PM PDT by sam_paine (X .................................)
[ Post Reply | Private Reply | To 8 | View Replies]

To: patton
Sad. 30 years ago, it was filled with more PhD's than Los Alamos.

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.

26 posted on 06/30/2006 2:08:29 PM PDT by sam_paine (X .................................)
[ Post Reply | Private Reply | To 23 | View Replies]

To: sam_paine
Yeah, maybe. Not my concern. I just found it interesting, when I got there in 1999, that the place was a dust farm. It had had a reputation rivaling MIT, for innovation and scientific exploration. Draper Labs, Darpa, and GM.

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.

27 posted on 06/30/2006 2:15:50 PM PDT by patton (...in spit of it all...)
[ Post Reply | Private Reply | To 26 | View Replies]

Comment #28 Removed by Moderator

To: patton

I've heard that the UAW is placing their job bank workers in there now. Really.


29 posted on 06/30/2006 2:24:58 PM PDT by ILS21R
[ Post Reply | Private Reply | To 23 | View Replies]

To: ILS21R

<< shudder >>


30 posted on 06/30/2006 2:27:00 PM PDT by patton (...in spit of it all...)
[ Post Reply | Private Reply | To 29 | View Replies]

To: patton
Tell me again why anyone would buy GM?

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.

31 posted on 06/30/2006 2:29:10 PM PDT by sam_paine (X .................................)
[ Post Reply | Private Reply | To 27 | View Replies]

To: sam_paine
Most reliable truck I ever owned was a 1964 IH PU.

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.

32 posted on 06/30/2006 2:34:52 PM PDT by patton (...in spit of it all...)
[ Post Reply | Private Reply | To 31 | View Replies]

To: sam_paine

This would mean that GM would be partially French, though.
'Chevrolet' has always sounded French anyway.

Actually Louis Chevrolet was Swiss


33 posted on 06/30/2006 3:15:21 PM PDT by kaktuskid
[ Post Reply | Private Reply | To 25 | View Replies]

To: sam_paine
'Chevrolet' has always sounded French anyway.

As does Cadillac, Escalade, DeVille, Bonneville, LeMans, Gran Prix, LeSabre, Lucerne, Lacrosse, etc.

34 posted on 06/30/2006 3:25:19 PM PDT by reg45
[ Post Reply | Private Reply | To 25 | View Replies]

To: mr. mojo risin

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.


35 posted on 06/30/2006 3:26:35 PM PDT by nyconse
[ Post Reply | Private Reply | To 28 | View Replies]

To: patton

GM already sold off much of GMAC to clear the decks for bankruptcy or to show brinkmanship with the UAW; maybe both.


36 posted on 06/30/2006 3:59:56 PM PDT by Mikey_1962 (If you build it, they won't come...)
[ Post Reply | Private Reply | To 21 | View Replies]

To: patton

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.


37 posted on 06/30/2006 4:01:53 PM PDT by Mikey_1962 (If you build it, they won't come...)
[ Post Reply | Private Reply | To 23 | View Replies]

To: kaktuskid
Actually...Swiss

OK. Germanfrench.

38 posted on 06/30/2006 4:05:38 PM PDT by sam_paine (X .................................)
[ Post Reply | Private Reply | To 33 | View Replies]

To: Mikey_1962

Nope, not since 1999.


39 posted on 06/30/2006 4:06:53 PM PDT by patton (...in spit of it all...)
[ Post Reply | Private Reply | To 37 | View Replies]

To: Mikey_1962
"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. "

As Dandy Don Meredith used to say, "Turn out the lights, the party's over..."

40 posted on 06/30/2006 4:09:15 PM PDT by OKSooner (It wasn't the black guy after all - the dutch boy did it.)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-54 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson