Renault comes to rescue AMC
If Washington is willing to prop up Chrysler, will Paris help salvage American Motors? Apparently so. Last week AMC and France's state-owned Régie Nationale des Usines Renault, Europe's fourth largest car company, unveiled a labyrinthine financial deal that amounts to a Big Money bailout of the weakest and smallest of the major U.S. automakers. The survival scheme, which the firms have been negotiating since July, would inject $500 million in cash into AMC. Also, the deal could wind up providing Renault, which already holds 5% of AMC's stock...
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