I'm the Right Guy for GM'; Embattled CEO Rick Wagoner warily welcomes talks on an alliance with Renault-Nissan and its famed savior, Carlos Ghosn.
Newsweek International, July, 2006 by Naughton, Keith
Byline: Keith Naughton (With Tracy McNicoll in Paris)
On the Friday morning before all of General Motors was to go on its
Independence Day holiday, a surprise letter hummed over CEO Rick Wagoner's fax machine. It was from GM's largest individual investor, 89-year-old Vegas billionaire Kirk Kerkorian. And though it was addressed to Wagoner, the June 30 missive was simultaneously telegraphed to the world in an SEC filing. Kerkorian, growing impatient with Wagoner, decided to shake things up by outing top-secret talks he'd initiated to arrange a shotgun marriage between GM, France's Renault and Japan's Nissan. Wagoner, who had just learned of the talks a few days earlier, was stunned. "Well," he recalls thinking ruefully, "this looks like something else...
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