Wednesday, October 04, 2006

Trouble in Motown

From the NY Times Website:

"General Motors ended its talks about forming an alliance with Renault and Nissan as they failed to agree on how G.M. would benefit from such a deal, the three companies said today.

In a statement, the companies said they could not agree on the total savings the deal would produce or how the benefits would be distributed.

“Based on its conclusions, G.M. had proposed that Renault-Nissan provide compensation as part of a potential alliance and for potentially precluding G.M. from entering other alliance opportunities if Renault-Nissan had made a significant investment in G.M.” the joint statement said."

-Sounds like the vultures are circling.

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