Billionaire Kirk Kerkorian said Thursday that he was willing to spend another $400 million on General Motors stock in an apparent bid to pressure GM to redouble its efforts to explore a possible alliance with Renault and Nissan. But despite increased pressure from Kerkorian to do a deal, GM Chief Executive Rick Wagoner said he's "absolutely confident" the world's largest automaker can survive without an alliance with Renault and Nissan or any other industry peer. However, Wagoner should tred lightly in regards to Kerkorian's demands. Kerkorian, a former boxer, has applied the same pugnacious tenacity from his youth into his investment tactics. While Kerkorian for the time being is attempting to work with GM's management, should those efforts fail, he could try to force Wagoner to step down. In addition to management changes, Kerkorian could also bring a legal challenge against GM if he doesn't get his way. After all, Kerkorian continues to challenge DaimlerChrysler in the courts. On Tuesday, he filed an appeal in the on-going case. Kerkorian contends he was shortchanged in the 1998 "merger of equals" between Chrysler and Daimler-Benz. He lost a lower court ruling. —Matthew Wurtzel
See story about Kerkorian from The Deal
See story about DaimlerChrysler suit from The New York Times
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