It’s Friday (for you guys anyway, we’re 20 minutes into Saturday here), and that means GM-board-meeting-teleconference-day. GM’s top brass will gather together and hash out their response to Tracinda’s idea of bringing the company into an alliance with Renault/Nissan.
I fully expect that news of the outcome will be forthcoming whilst I’m asleep, so I’m left with the job of predicting the outcome. Anyone who wants to score my predictions can do so in comments.
Therefore, based on various readings over the last few days:
1. GM’s board will have little choice but fulfill their responsibility to shareholders and investigate the merits of the proposal. They’ll come out of the meeting with one united voice that says we’ll look into it but we ain’t saying jack about anything else.
2. Behind that united voice will be the voice of Rick Wagoner telling Kerkorian, York and Ghosn to get the hell out of Dodge.
The outcome of that investigation into the merits of the proposal will be something like “we’ve but costs by doing this, this and this, and we’re making inroads here, here and here, and there’s nothing in this proposal that benefits GM in any material way.”
They’re my main predictions, though I have another one about a GM-hired hitman with a photo of an octogenerian in his pocket…..
Can’t wait to see how it turns out. If they can get over this hurdle then they’ve just got that pesky bankruptcy thing to brush off and everything will be fine. Perhaps they might even get around to selling a few cars. Saabs even!