[Marxism] GM-Nissan-Renault, inc.

[Louis Proyect <lnp3@xxxxxxxxx>]

"The enormous growth of industry and the remarkably rapid concentration of 
production in ever-larger enterprises are one of the most characteristic 
features of capitalism."

V.I. Lenin, "Imperialism, the Highest Stage of Capitalism"

===

NY Times, June 30, 2006
Key Investor Urges G.M. to Explore 2 Bids
By MICHELINE MAYNARD

DETROIT, June 30 ? The company controlled by General Motors' biggest 
individual shareholder urged the automaker today to explore a three-way 
partnership with Nissan of Japan and the French automaker Renault, which 
controls Nissan.

Tracinda Corporation, which is owned by billionaire Kirk Kerkorian, said it 
believed Renault and Nissan would be interested in buying a minority stake 
in G.M., the world's biggest auto company.

Such a combination stands to rank among the biggest deals in recent 
automotive history, along with the one that merged Daimler-Benz and 
Chrysler in 1998 and the one linking Renault and Nissan in 1999. It 
conceivably could keep G.M., which is facing a stiff challenge from Toyota, 
at the top of the automotive industry.

It also could give Carlos Ghosn, who serves as chief executive at both 
Renault and Nissan, a direct role in running G.M., which lost more than $10 
billion last year and is struggling to turn itself around.

Tracinda's suggestion came in letters sent by the corporation to Louis 
Schweitzer, the chairman of Renault; to Mr. Ghosn; and to Rick Wagoner, 
G.M.'s chief executive. The letters were included in a regulatory filing 
this morning with the Securities and Exchange Commission.

In a brief statement issued this morning, G.M. said, "The Tracinda request 
will be taken under advisement by the G.M. Board of Directors." The company 
declined further comment.

Spokeswomen for Renault and Nissan had no comment. Jerome B. York, an 
advisor to Mr. Kerkorian who sits on the G.M. board, could not be reached 
for comment.

full: http://www.nytimes.com/2006/06/30/business/30cnd-gm.html

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