This is funny! GM chief calls push for alliance 'not helpful'

General Motors CEO Rick Wagoner says he was pushed into talks of an alliance with France's Renault and Japan's Nissan, and he is determined that those discussions not distract GM (GM) from its turnaround effort.

Wagoner will meet in Detroit on Friday with Carlos Ghosn, CEO of both Renault and Nissan (NSANY), to begin investigating a possible linkup. The talks were set in motion in June when Ghosn, famous for saving Nissan from bankruptcy, was approached by Jerome York, the GM board member who represents billionaire shareholder Kirk Kerkorian.
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PlanoA4 - 7/14/2006 1:48:37 PM

0 Boost

Shoved is more like it! He is doing this to save face in the light of all of the issues GM is facing. Kerkorian knows how to manipulate the press. If Wagoner failed to do this it would set him up for a fall.

kart1 - 7/14/2006 2:05:27 PM

0 Boost

He is probably just worried about his removal if the alliance goes through. Maybe if the turnaround would have worked better this alliance talked would not have occurred. Kerkorian is doing what any person would do: save his billions.

MercBasher - 7/14/2006 4:29:34 PM

+1 Boost

Apparently Wagoner told the reporter this: "I only care about one thing: fixing General Motors and doing what's right for General Motors."

If the quote is true then he needs to fire Lutz, and offer his own resignation.

jochet - 7/16/2006 7:25:45 PM

+1 Boost

The only GM product I crrently own is one of their P/U trucks for my business. Other than a corvette, I cannot see myself owning another GM product. They just don't make sense. Only Chrysler is moving in the right direction, Ford and GM are going nowhere fast. I'm not saying that Nissan,Renault are the panacea, but GM makes no sense at all. They need help and fast, Daimler Chysler are geting it right and if not challenged fast will be unstoppable. GM has got remove Wagner and take a chance, Goshen is a proven winner.