A historic meeting between General Motors, Renault and Nissan is taking place in metro Detroit on Friday.
The meeting between General Motors Chairman and CEO Rick Wagoner and Carlos Ghosn, chief executive of Renault SA and Nissan Motor Corp., is being held at an undisclosed location. The leaders are expected to discuss a possible alliance between GM, Nissan and Renault.
Local 4 business editor Rod Meloni said he has learned Wagoner feels pushed into the alliance meeting.
Using his sway as GM's largest single shareholder, investor Kirk Kerkorian arranged the possible alliance, the station reported. He asked his automotive industry advisor and GM board member, Jerry York, to meet with Ghosn to broach the historic meeting last month, according to Local 4 reports.
Kerkorian made the idea public by filing with the Securities and Exchange Commission, surprising everyone, including GM CEO Rick Wagoner, Local 4 reported.
"I didn't know it was going to happen, and it's not the way I would have done it, and it's not particularly helpful," said Wagoner in a
USA Today report on Friday morning.
"It has led to unending speculation that I generally think is not helpful to our business," added Wagoner.
Autoweek magazine publisher Rich Ceppos referred to it as needless and dangerous meddling, Local 4 reported.
"As Carlos Ghosn said, a longterm deal or no deal at all, and General Motors has so many immediate issues that, why would it want its management's focus to be diverted from those issues, which is inevitably what is going to happen," said Ceppos.
Ghosn gladly accepted the opportunity to talk and is making a carefully worded case, Local 4 reported. He said he is not going to run a third company.
"That's not what is at stake here. What is at stake here is building an alliance with a third company and supporting this company," said Ghosn.
Ghosn is expected to be at the Nissan Tech Center in Farmington Hills Friday afternoon to discuss Friday's meeting with Wagoner, Local 4 reported.
Previous Stories: - July 14, 2006: Wagoner, Ghosn To Discuss Possible Auto Alliance
- July 13, 2006: Detroit Free Press Conducts Poll For GM Alliance
- July 11, 2006: Wagoner Not Against Alliance With Renault, Nissan
- July 10, 2006: Nissan Moves Headquarters To Nashville
- July 10, 2006: GM Board Votes To Explore Alliance With Renault, Nissan
- July 7, 2006: Wagoner Likely To Fight Bid To Link With Renault, Nissan
- July 6, 2006: Analysts: Kerkorian Could Seize Control Of GM
- July 3, 2006: Nissan Starts Talks With GM Over Possible Alliance
- June 30, 2006: Nissan, Renault Want Stake In GM
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