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 ...
Not anymore. The buy-outs/retirements will help GM get ahead.
Thanks for the correction.
"Grow"
Did you hurt yourself coming up with that one?
"Sad. 30 years ago, it was filled with more PhD's than Los Alamos."
And there are more than a few vermin on this forum who take glee in that. Digusting. I have no respect for them. The are just as bad, if not worse than the DU crowd.
Hard to make sense of this. Japanese cars cost more than their US counterparts - compare the sticker on a Camry or Accord to a comparable US model and you'll see. Not only that, they don't offer whacky incentives like 0% financing and "employee pricing". Toyota, Honda, and Nissan build cars in the US and Japan, and they make more money per car than Ford, GM or Daimler.
Also, what subsidization are you speaking of? The Japanese government isn't subsidizing the Honda plant up the freeway from me, it's 20 years old. Or the Toyota plant in Georgetown, KY, about 80 miles south of me. GM and Ford are the victims of their own bad products, ridiculous brand structure, and UAW legacy. Fear of decisive action has brought GM to this point. Buick and Saturn should have been shuttered 5 years ago, along with Oldsmobile. GMC has never made sense as a brand.
BTW, I have one GM vehicle, an Envoy. It's a piece of crap. The radio coating peels off constantly - I'm on my third radio. I gave up putting in new ones because it was a hassle to be without the car for the day. Door and window seal trim fits poorly and falls off. The rear doors must be slammed with the might of Superman to close properly. Great car. These are things that other car makers - my wife's Chrysler Town & Country has been trouble free for 6 years - have long ago conquered. With GM, anything you buy is a gamble, as Kerkorian learned the hard way.
indeed, these GM threads are filled with people who WANT them to fail. I guess they are comfortable with an economy where companies don't make anything - we just have services, and people making money flipping paper, bonds, stocks, real estate.
Five speed trannies? (1 forward, 4 reverse?)
"I guess they are comfortable with an economy where companies don't make anything -"
They're jealous of the life GM workers have had. And they hate unions so much, they don't care that they are Americans in the unions. They want every last one of them beaten down, broken, and unable to buy anything.
Now.... how will you sell things if your neighbor can't buy?
They come here, talk about what patriots they are, all the while rooting for the demise of the American middle class. Many of them are happy to see the illegals coming here. They're ok with a young man going and risking his life in Iraq for them. But, when that young man comes back, if his skill learned in the military is not sale-able, sucks to be him.
Real patriots. Self centered, greedy, hypocrites is what they are.
Last GM I'll ever buy. I hope they go bankrupt.
No, Data General soldiered on and was bought out be that disk company (EMC?). I forget who were the loser components of Unisys.
"Will that make me a patriot now?"
No, and it won't save you from being a jerk.
But you're ok with that. You and the DU folks deserve each other.
Yeah, but look at all the money they saved by using a less expensive gasket. Economies of scale and all that, you know... /s
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