GreenHybrid - Hybrid Cars - View Single Post - Renault, Nissan ready to 'study' alliance with General Motors

martinjlm · #5 (**permalink**) 07-01-2006, 08:05 AM

Quote:

Originally Posted by bwilson4web

I think GM management has more to fear. A BBC radio report suggested a major GM stockholder is unhappy that his 10% investment has made no money. The BBC reports he pretty well forced an emergency stock holders meeting about this deal.

Like you, I don't think Renault and Nissan would bring the type of changes needed. But it is a way that GM management can start putting on their parachute harnesses. Sometimes you have the fire the management and the faint scribbling of 'pink slips' is begining to be heard.

Bob Wilson

Kirk Kerkorian. He is the billionaire behind Tracinda Corp. He's 88 years old, so he's obviously not interested in waiting for the long term payoff of the GM restructuring program. He has recently expressed his opinion that things are progressing as expected, but obviously from his perspective, faster is better.

I'd say "forced" is a pretty strong word. I think he suggested the idea and the Board considers it to have enough merit to meet to discuss whether or not to follow-up on it. The media is a little bit too worked up about this one. It's waaaay too early to say whether anything will ever come of this. Slow week on Wall Street pushes this to Page 1.

Peace,

Martin