Kerkorian and GM

Major investor in GM and billionaire businessman Kirk Kerkorian hopes to bring French car maker Renault and Japanese car maker Nissan on board. The General Motors board will look into a deal where Renault and Nissan would buy about 20% of GM, and share production facilities.

Investor steers GM awry
"Kerkorian's plan has helped drive up GM's stock price in the short term, although it is still slightly below the price he paid for it. But it makes very little sense as a long-term fix. GM's biggest problems are in domestic markets, not overseas. The company's labor costs make it hard to compete. And it produces too many vehicles that are uninspiring or consume too much gas, or both. Ghosn's talents aside, allying with French and Japanese companies wouldn't solve those problems." USA Today

In a letter to the editor at the Detroit Free Press, a reader said this about the Kekorian and GM deal..
"He is for "Numero Uno".. Kirk Kerkorian. As long as he benefits financially, he couldn't care less about anyone else. He seems to be foisting this alliance as the only way for GM to survive. Not! GM can and will survive without capitulating to his riches-for-Kerkorian scheme." Detroit Free Press

# Major Companies, Famous Investors