On the Road to Regret?(Renault's proposal to merge with Nissan Motor Corp.)

Newsweek International, March, 1999 by Ernsberger Jr., Richard

Renault has offered to rescue deeply indebted Nissan. A smart merger-- or financial folly?

With Daniel McGinn in Detroit, Velisarios Kattoulas in Tokyo and Scott Johnson in Paris

It's rare for a corporate spokesman to publicly deride his employer. But that's how bad things have gotten at Nissan Motor Co. Two months ago Jason Vines, a vice president of Nissan's North American division, was asked to explain the Japanese carmaker's fall from the ranks of top global carmakers. "This company got hit with a big 'stupid stick'," said the blunt-talking Vines--a reference to a series of top-management blunders that could soon cost Japan's second largest automaker its independence. A lot of people would have been sacked for such a remark. But when a company...

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