Breath of Life for General Motors
Today billionaire investor and 9% owner of GM, Kirk Kerkorian, wrote a letter to CEO Rick Wagoner urging GM to consider a three-way partnership between Nissan Motor Corp. and Renault SA. This news sent shares of GM up +2.36 points (8.6%) signaling a quicker then expected turnaround. This partnership promises future cost savings on product development and a closer association with Carlos Ghosn, who is credited with driving Nissan's turnaround and now heads Nissan and Renault. This move would significantly raise shareholder value for GM. It might be a good idea to begin looking to purchase this stock while its still near its 5 year low.
posted by Stock Administrator @ 2:10 PM
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