Renault and Nissan welcomed this decision

The Board of Directors of General Motors (GM) agreed last Friday the idea of studying the American manufacturer with the French-Japanese group Renault-Nissan alliance, serious discussions can now begin. But this sign of opening of the direction of GM in no way decreased the skepticism displayed by many observers as the chance of success of this operation which would give birth to the most powerful bastion of the automotive sector. The doubts are deep, that the directors of the American firm have renewed their confidence in Richard "Rick" Wagoner, the CEO, and entrusted this study, unlike what wanted Kirk Kerkorian, the human that pushes this approximation.

"The Board of Directors authorized the management of the Group (...)". to evaluate the potential benefits of such an alliance (...) ", said one of the directors in GM Friday release. Renault and Nissan welcomed this decision. "The process can now begin," said a spokesman for the Japanese manufacturer. Directions of the two groups now have a huge task before them. Carlos Ghosn, CEO of Renault and Nissan, should meet Rick Wagoner as early as next Friday. Shareholder at 9.9, Tracinda, the company of Kirk Kerkorian, has described the position of GM of "good start". But the man who picked up Carlos Ghosn and who put the knife under the throat of the directions of the two groups by making public these discussions did not full satisfaction. "An objective assessment of this unique opportunity require an independent Committee the Council", and regrets his investment firm.

Vigilance of policies

In fact, the Council GM "continues to fully support the recovery of North American operations of the group plan," said the release of the constructor. Rick Wagoner, who said "impatient to hear the arguments of Renault-Nissan", is therefore far from giving the keys of the House to Carlos Ghosn, what would he like probably if Renault-Nissan entered the capital at 20, as it apparently was discussed. This is not the only reason for skepticism. "I do not think that this operation may succeed because the problems are too many at GM (pensions and costs of health insurance, renegotiation of the collective agreements of the workers at the end of the summer, etc.), explained an expert business banker of the sector." To manage this and the integration of the two groups, it would be Renault-Nissan in perfect health. "For him, there is even a risk that the three builders away from their main task: to carry out their own restructuring. Ron Gettelfinger, President of the United Auto Workers (UAW), the main Union of automobile in the United States, does not believe in this operation. "I do not think that this should take place, after analysis", he said on radio Friday by giving its support to Rick Wagoner.

If it was in such an operation, Carlos Ghosn should redouble its diplomacy. Risks see pass a flagship of the domestic industry under foreign control, American politicians are on the lookout. "Show me that this will be good for Michigan (where GM is headquartered), that it will not jobs move to the France and the Japan, launched as a columnist for the"Detroit News"the Governor of that State. I would agree only if this is the case. "GM could use its means of lobbying. Before entering, Carlos Ghosn however could not ignore that this project would lead to much reserves. The outcome of discussions Friday with Rick Wagoner is therefore awaited with impatience.