Nissan/Renault to buy some or all of GM!!!!
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bamaSAAB
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Nissan/Renault to buy some or all of GM!!!!
BIG NEWS on Saabnet.com Many of us old Saab diehards have been hoping for someone to dislodge Saab from GM! Maybe this is the ticket. While I would prefer Saab to be Swedish again, this would be a GIANT step in the right direction. Nissan/Saab makes much more sense than GM/Saab ever could. Nissan already knows how to build sports sedans, make them reliable, and make a profit selling them. GM loses on all 3 counts!Hurrah for the Japanese/French!
Re: (szhosain)
Is this speculation or actual fact? I've been trying to google this without much luck.
Good news if it's true.
Good news if it's true.
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tkeskic
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Re: (IlAClI)
I'm not sure if the purchase of GM is a good idea, its a cash pit. Thier cars - and I speak with some authority on this matter, are mostly not built well; I have owned there cars since I was able to drive, and have purchased a few used, and then starting buying new ones. I have had close to 15 new cars made by General motels in the Chev, Buick, Pontiac lines and never been overly impressed. Trucks on the other had, such as the GMC 3/4 and 1 Ton are good machines.... especialy if you purchased the new Duramax, the old ones had very faulty engines amoung mnay things.
If they purchase it, it will bleed cash into the organization, to the point they cant afford to build good cars under the infiniti brand and nissan brand. I'd actually be a little pissed if they do, as I wanted to get away from the GM crap they have been building, which is why I purchased the infinti this time;
tk
If they purchase it, it will bleed cash into the organization, to the point they cant afford to build good cars under the infiniti brand and nissan brand. I'd actually be a little pissed if they do, as I wanted to get away from the GM crap they have been building, which is why I purchased the infinti this time;
tk
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SR20Essex
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Re: (tkeskic)
The CEO's of GM are going to hold out till they retire. Their idea (and its obvious to investors) is to milk every last drop out of the company and leave it in ruins for the next generation. GM is still the largest auto manufacturer in the world. If they did go down, several governments including ours would help bail them out because their economy depends on GM to continue cranking out crappy cars to the diehards that buy them (think about raw materials suppliers, plant workers, marketing...etc. its known as too big to die). Investors have asked top management of GM to step down, but the thickheaded dumbasses are too stubborn to make good cars or let someone else take over and turn that large train headed for a wreck around.
Seriously, do you think a company who lost $12billion last year (which is not even a drop in their bucket) and still thinks they are on top of things is going to sell out to the competition? Not on your life; they are going down swinging like one legged man in an *** kicking contest. The only way that pigheaded group of old morons are going to be taken is by hostel takeover once they are weakened by their own stupidity.
Seriously, do you think a company who lost $12billion last year (which is not even a drop in their bucket) and still thinks they are on top of things is going to sell out to the competition? Not on your life; they are going down swinging like one legged man in an *** kicking contest. The only way that pigheaded group of old morons are going to be taken is by hostel takeover once they are weakened by their own stupidity.
Re: (SR20Essex)
SR20ssex
Your comments on GM are almost entirely false. As a matter of fact, not as many people as you may think are employed by GM compared to other car companies. GM has a total of roughly 150,000 employees (Inside the United States). Compare this to Nissan, which has a total of 147,000 employees, most of which are in the united states, and other automobile companies in the United States and out, whom contain similiar numbers. I see no government involvement in this issue at anytime, as there are plenty of other suppliers and car companies that are thriving. The suppliers of materials that supply to GM also sell to companies such as Toyota and Ford. As for the amount of losses (Which are only 6 billion), those have acutally have resulted in lower positive profits. To me, GM still has a fighting chance, and the "CEO's" of GM are not going to "hold out" until retirement, because they too will have almost nothing to retire on by that point. However, they have already made many financial decision, which include cutting 25,000 workers, and 3 1/2 plants. They have closed Oldsmobile, and are currently planning to bail a few of their companies. Many promising concepts have been released, and a few are making it into production by 2008 (New Camaro). Infact, the "CEO's" of GM have been listening, and are planning many more RWD models, and promise better quality.
Oh, and no large movement of investors have asked the top dogs to resign.
I mean this nicely when I say to be sure to check your facts and know the subject before you start bashing on it.
Your comments on GM are almost entirely false. As a matter of fact, not as many people as you may think are employed by GM compared to other car companies. GM has a total of roughly 150,000 employees (Inside the United States). Compare this to Nissan, which has a total of 147,000 employees, most of which are in the united states, and other automobile companies in the United States and out, whom contain similiar numbers. I see no government involvement in this issue at anytime, as there are plenty of other suppliers and car companies that are thriving. The suppliers of materials that supply to GM also sell to companies such as Toyota and Ford. As for the amount of losses (Which are only 6 billion), those have acutally have resulted in lower positive profits. To me, GM still has a fighting chance, and the "CEO's" of GM are not going to "hold out" until retirement, because they too will have almost nothing to retire on by that point. However, they have already made many financial decision, which include cutting 25,000 workers, and 3 1/2 plants. They have closed Oldsmobile, and are currently planning to bail a few of their companies. Many promising concepts have been released, and a few are making it into production by 2008 (New Camaro). Infact, the "CEO's" of GM have been listening, and are planning many more RWD models, and promise better quality.
Oh, and no large movement of investors have asked the top dogs to resign.
I mean this nicely when I say to be sure to check your facts and know the subject before you start bashing on it.
Re: Nissan/Renault to buy some or all of GM!!!! (bamaSAAB)
http://biz.yahoo.com/ap/060703...?.v=5
Yahoo! Finance wrote: APNissan, GM to Discuss Possible AllianceMonday July 3, 12:48 pm ETBy Hiroko Tabuchi, Associated Press WriterNissan Motor Co. Approves Opening Talks With General Motors Over Possible Alliance
TOKYO (AP) -- Nissan Motor Co. on Monday approved opening talks with General Motors over a possible alliance, the Japanese automaker said.
Nissan's board of directors met earlier in the day and decided the company "should proceed with exploratory discussions concerning a potential alliance with General Motors," Nissan said in a statement.
The talks will be conditional on GM endorsing a proposal by its major shareholder, Kirk Kerkorian's Tracinda Corp., that GM join the alliance between Nissan and its partner, Renault SA, the statement said.
The announcement came ahead of a Renault board meeting where executives were expected to discuss the purchase of a significant stake in General Motors Corp. with Nissan.
Local media reports have said Renault and Nissan could buy up to 20 percent of outstanding shares in GM. Details of the possible investment plan surfaced after billionaire investor and major GM shareholder Kerkorian proposed on Friday that the troubled American carmaker join the Nissan-Renault alliance.
Carlos Ghosn, the CEO of both Renault and Nissan, has discussed the matter with Kerkorian and is willing to talk to GM, according to a separate statement by Nissan and Renault.
GM has been engaged in an extensive turnaround plan in North America amid declining profits, high labor costs and growing competition from Asian automakers. The automaker announced plans last year to close 12 plants by 2008 and said 35,000 hourly workers had agreed to retire early or accept a buyout offer.
If it materializes, the deal would create a huge auto alliance with annual output exceeding 15 million vehicles and commanding nearly one-quarter of the global market share, according to news reports.
A three-way alliance could also mean the departure of GM's chief executive, G. Richard Wagoner Jr., and leave Ghosn overseeing the three companies. Ghosn is hailed for pulling back Nissan from the brink of collapse in 1999 and turning it into one of the world's most profitable car makers.
The auto industry, however, is rife with ambitious mergers and alliances that have gone awry. Last year, GM had to pay US$2 billion to break an alliance forged in 2000 with Italy's Fiat SpA after the Italian automaker's finances and market share began to collapse.
In the 1990s, BMW AG lost billions after buying Britain's Rover. DaimlerChrysler AG even tried a three-way partnership of its own, bringing in Mitsubishi Motors Corp., but unraveled the tie-up last year.
Ghosn's initial thinking about a GM-Renault-Nissan partnership is centered on potential cost reductions, news reports said. He suspects the three companies together could reap substantial savings if they were to cooperate on engineering; share the basic underpinnings, or platforms, of vehicles; and consolidate their manufacturing operations, the reports said.
Nissan shares finished marginally higher Monday, adding 7 yen (US$0.06), or 0.56 percent, to 1,257 yen (US$10.99) on the Tokyo Stock Exchange.
Renault owns a 44.4 percent stake in Nissan, which in turn owns a 15 percent stake in Renault.
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tkeskic
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Re: Nissan/Renault to buy some or all of GM!!!! (Badfish)
There is an updated one here also; says pretty much the same:http://www.marketwatch.com/New...enews
Thanks for posting the original one!tk
Thanks for posting the original one!tk
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elwesso
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Re: Nissan/Renault to buy some or all of GM!!!! (tkeskic)
honestly I dont think this would be a smart move... HOWEVER it would be nice for some platform sharing.. An STS with a VK45, now that sounds like an idea, or a CTS with a VQ... A titan with an american turbo diesel.. Sounds good to me...
But I dont think that it would be smart for nissan to buy GM.. American auto workers demand too much money and dont build quality cars cheap like Asian MFG's do..
But I dont think that it would be smart for nissan to buy GM.. American auto workers demand too much money and dont build quality cars cheap like Asian MFG's do..
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MinisterofDOOM
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Re: Nissan/Renault to buy some or all of GM!!!! (elwesso)
I agree with Wes. Nissan partnering/merging/supporting/whatever GM would be very unwise. Nissan has nothing to gain from it, and everything to loose. Alternatively, GM has nothing left to loose, and everything to gain.
Even in the event that BOTH companies benefitted from it, GM, not Nissan, would come out best off in the end. They're so much bigger...a Nissan-resurrected GM would be the most powerful automaker in the world, easy. And where would that leave Nissan?
Nissan would do best to sit back, grab a bag of popcorn, and point and laugh at whoever makes the mistake of adopting the responsibilities of all of GM's bad financial decisions.
Even in the event that BOTH companies benefitted from it, GM, not Nissan, would come out best off in the end. They're so much bigger...a Nissan-resurrected GM would be the most powerful automaker in the world, easy. And where would that leave Nissan?
Nissan would do best to sit back, grab a bag of popcorn, and point and laugh at whoever makes the mistake of adopting the responsibilities of all of GM's bad financial decisions.
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