Word: renault
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...changes have made the difference. "What the fia did was excellent," he says; "it has given a great boost to the racing It helped, too, that the huge technical gap between Ferrari and the rest of the field in 2002 has since been narrowed by Williams, McLaren and Renault. In fact, Raikkonen and Montoya had something of an edge, the result of an unusually hot European summer: their Michelin tires are better for dry weather than Schumacher's Bridgestones. So it was poetic justice when, in the penultimate race of the season, Schumi had some freakish weather on his side...
...more than $11.5 billion. Two days later, Viacom hinted its interest had waned. That leaves only three bidders, some of which won't pay cash. No wonder Vivendi stock fell over 7% last week. Open Road To Privatization The French government dumped a €1.2 billion stake in Renault, reducing its holding in the carmaker to 15%. Lawmakers then waved through a draft bill allowing the state's share in former monopoly France Télécom to drop below 50%. Update One of Turkey's wealthiest families, the Uzans - profiled in time last week - was found guilty...
...balance sheet and a fleet of popular, critically acclaimed cars and trucks. He is leading the bold expansion by foreign carmakers eager to build more vehicles in the U.S. And he may soon get a chance at an even bigger challenge--as head of the slow-growing French automaker Renault...
...browed, nattily dressed Ghosn is the quintessential global executive. He earned his reputation as a turnaround artist at Michelin, which dispatched him to fix ailing operations in South America and then gave him the job of restructuring Michelin North America after it bought Uniroyal in 1990. By the time Renault hired him and sent him to Tokyo to fix Nissan (which Renault controls), he had picked up five languages (Japanese is his sixth), a blunt decision-making style and a knack for blending corporate cultures...
Ghosn, 49, is expected to stay at Nissan until 2005 and then to take over at Renault after its CEO, Louis Schweitzer, retires. Ghosn watchers expect him to fashion a hybrid as stylish as the French-Japanese restaurants found in Paris and Tokyo. The next generation of the Renault Clio, a small car sold in Europe, is slated to share the underpinnings of Nissan's March, and the next-generation Nissan Sentra will use Renault's Megane platform. Already, French journalists have given Ghosn a backhanded compliment, dubbing him "Le Cost Killer." --By Daren Fonda