1) The media goes all speculative that there’s nothing in the GM-Renault-Nissan talks that would benefit GM to the point of making it worthwhile.
2) GM seek to quiet the speculation by announcing that they’ll see the talks through to the end.
3) At the same time, Carlos Bonaparte starts muttering about taking his talks to another part of Detroit
4) Ageing grouchy shareholder Kirk Kirkorian threatens to cry and stamp his feet even more. Via Automotive News email alert:
WASHINGTON (Reuters) — Investor Kirk Kerkorian said he may consider buying up to 12 million additional shares of General Motors common stock, according to a filing today with the U.S. Securities and Exchange Commission.
Kerkorian said his Tracinda investment vehicle, which currently owns 9.9 percent of GM, would need regulatory approval if it sought to own 10 percent or more of GM common stock.
“Tracinda continues to believe that a strong opportunity exists in a potential alliance between General Motors, Renault and Nissan and that there should be strong General Motors board involvement in the analysis of such a potential alliance, including the utilization of independent advisors,” it said in the filing.
Ah, where’s a good heart attack when you need one?