Wagoner and Ghosn meet - 90 day confidential review decided upon

General Motors CEO Rick Wagoner and Nissan/ Renault CEO Carlos Ghosn finally met yesterday in Detroit to discuss a potential alliance between their two companies that was first proposed by GM's largest individual shareholder, Kirk Kerkorian, two weeks ago. The meeting resulted in an agreement to confidentially review the pros of such an alliance for the next 90 days. After the review period the two companies will determine whether an alliance needs to be explored further.

What we gather is that the idea of an alliance could be shot down during this confidential review period, or it could survive for another round of review. Either way, it doesn't sound like a decision will be made after three months.

The decision to keep this first review behind closed doors is understandable when you consider how much attention this whole affair has received in the media so far. According to Reuters, now that the two CEOs have met, neither company will comment on an alliance anymore, presumably until after this 90-day review. So, we guess we'll meet everybody back here in three months.

[Source: Reuters]

Share This Photo X