Update #2: GM has convened an emergency board meeting to discuss a proposal by shareholder Kirk Kerkorian to form an alliance between GM and Renault-Nissan, say two Automotive News sources close to the board. Original Post: Kirk Kerkorian — the billionaire investor who holds a 9.9 percent stake in General Motors — has formally suggested the struggling automaker form an alliance with Nissan and Renault. Kerkorian’s company, Tracinda, said in a letter to GM CEO Rick Wagoner that the partnership would “strengthen the competitive positions of all three companies.” There are even reports that Renault/Nissan are considering buying a significant stake in General Motors and including the American automaker in their alliance. GM shares subsequently rose $3.64 to $31.08 in New York Stock Exchange trading. Shortly thereafter, GM issued a statement regarding the idea: “General Motors has received no offer or proposal from Renault/Nissan with respect to its participating in the Renault/Nissan Alliance, as suggested in the 13-D Filing made today by the Tracinda Corporation. The Tracinda request will be taken under advisement by the GM Board of Directors. At this time, we have no further comment.”
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06/30, 12:30 PM
posted by:
tino
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06/30, 12:39 PM
posted by:
Anonymous
NOOOOOOO! I don’t want to see some japcrap brand piggyback on the shoulders of General Motors wave of success. Nissan offers nothing that the General doesn’t already excel in.
Trucks? Efficient engines? build quality? reliability?
Bringing Nissan into the mix would do nothing but drag the General down
06/30, 12:45 PM
posted by:
I loath anonymous
^^^Hahah! Suck on that asshole!
06/30, 12:46 PM
posted by:
Mark Fields Hairpiece
What does Nissan Renault get out of this arrangement? and GM just gets more brands it cannot cope with
06/30, 1:12 PM
posted by:
Pruce
Anonymous, it’s the opposite way around. And where’s this GM wave of success you’re talking about?
06/30, 1:19 PM
posted by:
Jim in LA
it should be obvious that kirk kerkorian is a cancer on any organization he comes into contact with – ask the folks at MGM how they like Kirk after years of his “leadership” there – they were sold off like old Tupperware at a garage sale to Sony a few years back.
fortunately, he’s old and won’t be around much longer to damage any more companies. guys like him, pickens, et al are unfortunate byproducts of a form of capitalism run amok that we currently suffer from.
06/30, 1:45 PM
posted by:
Nick
I wonder how many shares Kirk sold after the stock went up. I wonder if he woke up this morning, looked in the mirror and said “You know, I think I’ll start a rumor about Renault/Nissan wanting to buy GM, then, when the stock goes up, I’ll sell”…
He looks like a dried up old elf to me. Like Jim said, he’s a cancer that just loves to go around and f&$# up companies he didn’t help build.
06/30, 2:08 PM
posted by:
BAMF
haha #3 well put.
06/30, 2:12 PM
posted by:
bingethinker
Man, this “anonymous” guy sounds like he fell through a time warp from the 60s, when GM actually was on top, and Japanese cars actually were crap.
Anyway, Kerkorian (or is that Kevorkian – Dr. Death?) just wants to merge these companies and sell off the extra pieces for cash. He’s like Michael Douglas in Wall Street.
I think it would be a disaster for all the companies involved.
06/30, 2:21 PM
posted by:
Andy
Nissan sales are down, no way in hell should GM get into another loosing brand
06/30, 2:36 PM
posted by:
Anonymous
That wave of success never left. The new GMT900’s, the Solstice/Sky, G6, Malibu, Imapla, Z06, etc. The future Lambdas, Camaro as well.
Top notch vehicles, Nissan has no right to be piggybacking on the shoulders of General Motors to get ahead. They need to earn the respect and superiority of the General and that just can’t happen
06/30, 2:45 PM
posted by:
Jay
From a Bean Counter’s Point of View, it’s a great idea, but from a company moral and synergy point of view, it’s one stupid idea.
The only reason I’m for this deal is that hopefully Nissan can start doing the GM “Employee-Discount” gimmick, so I can get some good deal on the upcoming 2007 G35 coupe
)
06/30, 2:56 PM
posted by:
digitalzombie
Malibu is ugly Impala is retarded. GM is next to Ford with bankruptcy.
06/30, 3:01 PM
posted by:
Atomicbri
Well this is interesting…. I think with #7 and smell something fishy here….there has been “no talks” with Nissan/Renault… so where did this idea come from….the wanting of Carlos Ghosen in GM perhaps? And would Renault even be interested in a behemoth like GM with as much wind as its sucking….yeah yeah I know it has new models coming out and blah blah blah, but it is its old fashioned, union driven business and healthcare that is what will be crashing GM down like a ton of bricks….I think maybe Kerkorian needed some cash for the 4th of Juky weekend and decided to start this idea so he could sell some stocks to run gas in his $2M Yacht or something…..Just sounds really weird to me.
06/30, 3:02 PM
posted by:
Jay
Here is my wishlist for GN “General Nissan”
Escalade with Infiniti FX interior- Now, that’s HOT
06/30, 3:07 PM
posted by:
Jimmy Krankie
Its Carlos Ghosn not Ghosen or Goshen
06/30, 3:15 PM
posted by:
Stuart
First the japanese took market shares in sales now they taking shares in General Motors (The world leading automaker compared to fourth lol). Whats next Honda to buy Ford. The American car industry only has a bit of time before it die. R.I.P
06/30, 3:27 PM
posted by:
Jim in LA
Shouldn’t someone tell him that Buffet is going to heaven for giving all his money away
06/30, 3:29 PM
posted by:
StanFord
That “GM wave of success” hit Anonymous while he was sitting on the can this morning.
06/30, 3:43 PM
posted by:
Josh
i vote we not use the word SUCK on this web site anymore… learn some new vocabulary…
06/30, 4:04 PM
posted by:
DEEEZ
Voting Sucks
06/30, 4:05 PM
posted by:
Al Bundy
#2 is 100% absolutely correct. GM don’t need any Nissan P-O-S in the line-up. If they’re gonna partner with somebody, it should be Honda and BMW. GM should buy ‘em both…..
06/30, 4:05 PM
posted by:
Suck
SUCK !
06/30, 4:26 PM
posted by:
dell
yea nissan sucks ass!!!!!!BIG TIME….
06/30, 4:28 PM
posted by:
Mr Oblong
Why, only GM stands to gain from this.
06/30, 4:45 PM
posted by:
Matt
Anonymous…
You kill me with your great jokes! GM and Success!
Have you actually looked at the 5 year history of their stock prices? Have you actually looked at their product reviews? Have you actually seen the build quality of their vehicles?
See the thing is, if it was only in their entry-level vehicles (terrible interiors), I understand (and the same grievous horrors appear in many entry-level cars), but it’s through they’re WHOLE PRODUCT LINE.
And I’m *not* a GM hater – I really want to see GM step up! And I sincerely will be the first to congratulate them on successes (such as the recent Z06 – an impressive car – but still suffering from an interior that sucks)
Thanks for making my Friday!
06/30, 4:53 PM
posted by:
Johnny Fever
BOOOOOOGER!!!!
06/30, 4:56 PM
posted by:
Anonymous
holy sh!t, he owns 10 percent of GM. god dam!
06/30, 5:02 PM
posted by:
snodgrass
This could save GM.
GM’s future success is totally dependent on firing most of their Detroit based whitecollar work-force, and leaving the Detroit area totally. Detroit is a lost city which will never come back. After 100 years of employees having no incentive to educate and improve themselves (engineers and button pushers both relying on corporate welfare from UAW, et al.), the city is an intellectual wasteland.
They need the injection of new intelligence. Nissan and Renault have it.
06/30, 6:06 PM
posted by:
SJ
Anonymous
Actually, GM does make some quality interiors and people who pay attention to their current products know this to be true. Even their cheapest models like the Cobalt and the new Aveo arent that bad. Stock price is one thing, but interior design is another. Apparently you have never seen or sat inside of the DTS, STS-V, XLR, Tahoe, Escalade, GTO, Lucerne, Lacrosse, Impala, Sky, Aura, etc. All of those cars have decent interiors that are far better than any cheap econobox.
06/30, 7:14 PM
posted by:
M
Ahh this is the starting of a buy-out, GM needs to get their act together. If anything this would destroy GM, Nissan isn’t doing this to benefit GM but to benefit themselves. GM should have stopped this IMO…or tried to.
06/30, 10:28 PM
posted by:
Wes Cloud
You guy’s must not be paying attention to what is going on. If left alone, In a few years (5 or less) Gm will be gone . They desperatly need to drop all suv’s give the trucks to GMC, Sports cars to pontiac , High end cars to cadilac , Cheaper cars to chev and kill buick. Joining with a top notch japaneese automaker is the best thing that could happen. That will go a long way towards fixing their fit and finish problems. The money from nissan also may allow some workers to keep their jobs. GM has not seen success in a long time ……………..just look at the stock market sometime .
06/30, 11:55 PM
posted by:
Gogogodzilla
GM allying itself with the French company Renault???
Hmmm, well…
I guess that means that GM will have a new marketing gimmick – instead of employee pricing, they’ll offer a ‘cheese-eating surrender monkey’ with every GM purchase.
07/02, 7:24 PM
posted by:
Jerry
Some of you guys are just uninformed GM has been making a comeback just look at there stock junk to buy also look at there new models and interiors. I think GM will comeback on there own Nissan sucks and has nothing to offer GM, For you import lovers what could GM gain?
07/03, 11:43 AM
posted by:
A. Bominable
You guys are talking “brands” and that is absolutely NOT the problem.
The problem is cost control and Ghosn is known as Dr. Death as far as driving costs to the floor is concerned. He proved it at Nissan, regardless of its subsequent quality problems, which are an altogether different matter. Is GM all that better?
But, what Ghosn knows about controlling sub-contractor pricing a great many promising people in the car (or automotive) industry also know. What is missing is the will to implement a tough cost control program, which means getting more quality for less money.
The will isn’t there at GM, and GM has amply proved it. If it’s not Ghosn, it will have to be someone else who must come in and clean the barn out. Kerkorian, for all his faults, recognizes a management problem when he sees one. And, all the mindless sniping at his character on this forum wont change that simple fact.
07/03, 8:18 PM
posted by:
salesmen
i sell gmc and as far as i know anyone who offers 0% for 72 months for people belonging to the d credit club is taking its last breath its time for someone to cut a check. preferably toyota
07/04, 2:00 PM
posted by:
John
Hey Anonymous, what are you smoking?