Is GM Stalling With Renault-Nissan Alliance?

Excerpt from our One Page Annotated Wall Street Journal Summary (receive it by email every morning by signing up here):

Renault Executive Doubts GM's Drive in Deal Talks

Summary: According to Renault EVP Patrick Pelata, General Motors (GM) has been dragging its feet in negotiations with Nissan (NSANY) and Renault to build an answer to Toyota (TM). Kirk Kerkorian, 9.9% shareholder in GM, initiated an alliance between Nissan, Renault and GM in June and the companies have agreed to keep the negotiations quiet. Mr. Pelata commented to journalists that, with Toyota's plans to sell 9.8 vehicles globally by 2010, "What do we do? Say 'One day there will be a miracle, an earthquake,' [to stop Toyota's advance]?" While Mr. Pelata stopped short of making a statement about the negotiations with GM, he did indicate to reporters that he is frustrated with GM's inaction in pursuing a three way alliance. Stay tuned: GM Chairman and CEO Rick Wagoner and Renault-Nissan CEO Carlos Ghosn are set to meet in Paris tomorrow.
Related links: Full WSJ article • GM/Nissan-Renault Talks Bog Down • GM-Renault-Nissan Alliance Talks Make Little Progress • Toyota Ups Guidance • GM Investors Ahead of Themselves • Jerry Flint: Detroit's Luck has Run Out

More commentary: Other industry players: Honda Motor Co. (HMC), DaimlerChrysler (DCX), Ford Motor Co. (F), Volvo (VOLV).

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Comments

[kkin365:]

I think, in each one-page WSJ excerpt, the subject should include "[WSJ] " such that those who have subscription to WSJ, this commentator included, could decide on a priority concernng reading same. omooc

2006 Sep 26 01:43 PM

[David Jackson:]

Thanks David; these suggestions are helpful. A couple of questions:
- how useful do you find the WSJ Summaries?
- do you read the One Page Summary regularly?
- any other suggestions for how we can improve this?

2006 Sep 27 02:17 AM