Michel Rollier be him also forced lower pressure

Can Carlos Ghosn reinvent Renault In 2006, the course of the constructor has increased 28, as and as his brand lost ground in France and in Europe. Old market rule is that you buy the cyclical values, so cars, at the time where their cases go to the most evil, above their rebound. The craze for Renault exceeds this somewhat worn mechanism, because the cyclicity of the automobile is now less of the economic capacity of each group to renew its range taking its costs. On these points, the famous "contract 2009" presented by Carlos Ghosn February 10 lots in a distant term. Its strength was to dream very ambitious commitments on providing marks that will follow the implementation of the programme. It is thanks to the outstanding reputation that applies to the Director General of Renault Nissan resurrection. The episode of negotiations with General Motors confirmed the strength of this confidence: despite the risk of the project, the stock market was almost not flinch. But if success is written in advance, how to maintain attention Very negative for Peugeot, the consensus of analysts is very dispersed on Renault. This means that Christian Streiff in the former has real margins of progress, while Carlos Ghosn at the second has little right to the error.

Recurrent crisis State

It is tempting to take advantage of the vacuum passages that cross some companies to make purchases in good balance, but it requires fast reflexes. The first investors to have picked up the Faurecia late August were rewarded for their boldness. After the burst of "profit warnings" and the resignation of its President on bottom of scandal, who had sent him to the mat, the course of the subsidiary of Peugeot bounced from 38 to 55 euros late November. Since he has already lost 40 of the journey, and the visibility of the suite is lower than ever. Faurecia is not in a phase of adjustments that would precede the return of flame. The Interior of the vehicle specialist is completing his fifth year deficit in six years, and 2007 looks the same colour. Cannot make money as worn by strong volumes, it undergoes head-on declines in orders for Peugeot and Renault, its main clients, at the same time as increases in raw materials and a competition at loggerheads. The equation to solve by Grégoire Olivier, the successor of Pierre Levi, is itself formidable. But if Christian Streiff, the future pattern of Peugeot, is also hard with suppliers with the subcontractors of Airbus, the return of Faurecia in recurring profits which could be welcomed its other shareholders is not for tomorrow.

Inflated block

This is a surprise to find Michelin rose by 51 this year, only former of the CAC 40 to paste to the forefront of new members are Vallourec, Alstom, EDF. It is indeed one of the few groups of its size to have issued a "profit warning", and neither its 2006 results 2007 prospects are not very exciting. The disappearance of Edouard Michelin also could have a wait period. In reality, it was enough to Michel Rollier, his successor, to give, the global automotive, the outline of a plan for 2010 so that the title found its previous tone. Michelin had its stock market appeal with a clear choice: pay quality rather that running after volumes. Michel Rollier it took over his account by applying several levers: new capabilities in emerging countries, plants fewer and more efficient workforce reduction by effect of the departures in retirement. Investors there are of even more receptive that Michelin is one of the best positioned to capture the explosive growth expected for automobile in China, India and other markets. It remains that, as with Renault, they buy early results whose implementation can be disrupted. Just before his death, Edouard Michelin had voluntarily cooled their enthusiasm. Michel Rollier be him also forced lower pressure