posted on Jul, 9 2006 @ 06:40 PM
I don’t know how many people follow auto manufacturing news, but I enjoy vehicles myself and enjoy knowing whose engineering is in front of my
wheel. I always figured GM to be their own kind with their own interests. They have been the last manufacturer to step up over all design to better
compete with European and Japanese styling, but they were the first ones to propose the idea of installing recorder boxes "black boxes" in new
vehicles to sell as a parenting feature, but obviously with deeper consequences. But how long can GM stand alone and move at they're own pace? this
to me is very interesting cause it could be pushing GM in a direction that certain elements within may not like.
PROSPECT OF FOREIGN CONTROL OVER GM CAUSES STIR IN U.S.
ALLIANCE PROPSAL: Company votes to expore lin with Nissan, Renault.
DETROIT – It’s been said that what’s good for General Motors is good for the country.
But with a proposal now on the table to link the world’s largest automaker with Japan’s Nissan and France’s Renault, the question arises: which
Billionaire Kirk Kerkorian, who owns 9.9 percent of GM’s shares, is proposing that Renault SA and Nissan Motor co. each buy stakes in General Motors
Corp. and add the American industrial icon to their existing alliance. Friday, GM’s board of directors voted to pursue “exploratory
discussions” with Renault and Nissan.
The idea of foreign companies exerting control over GM doesn’t sit well with some U.S. politician, union leaders and admirers of the company. Their
discomfort is compounded by the fact that the French state holds 15 percent of Renault.
“I’m in favour of Michigan wining. I’m in favour of jobs coming here and the concern is that if it’s controlled by businesses on another
continent or other continents, that we may end up on the losing end,” Gov. Jennifer Granholm told reporters in Lansing.
Mod Edit: Reduced External Quote.
[edit on 9/7/2006 by Mirthful Me]