Renault Executive Turning Heads at GM

Carlos Ghosn, the French auto executive who charted a successful turnaround at Nissan seven years ago, is one of his industry's hottest commodities. Could he be the man to end one of its longest cold streaks?

For Kirk Kerkorian, it is a question worth exploring. Shares of General Motors(GM Quote) surged Friday after Kerkorian, the company's biggest shareholder, claimed the Renault-Nissan alliance led by Ghosn might consider bringing GM into its fold and buy a minority stake in the world's No. 1 automaker.

In recent trading, GM's stock was up $1.25, or 4.6%, to $28.69, bringing its gain for 2006 to about 25%.

"It is our understanding that Renault S.A. and Nissan Motor Co. are receptive to the concept of including General Motors in their partnership-alliance and purchasing from General Motors a significant minority interest in the company," Kerkorian said in a letter to Rick Wagoner, GM's CEO. A report on CNBC said the stake could be 20% of GM for a price of $3 billion. ...