RENAULT-NISSAN - HAPPY FAMILIES?

In a word - NO! This photo is the first top level meeting since Ghosn was released from jail, and according to my excellent source at PSA, it was just chit-chat, and a chance to take this photograph showing beaming allies in what is really a fractious alliance.

The Ghosn issues which upset Nissan, and caused the clumsy coup d'etat remain, despite him being dismissed as Chairman. Nissan wants a better deal, and to keep Renault out of Nissan's affairs; and Renault wants a stronger role in the Alliance.

The joint statement which accompanied this photo said the parties were having 'productive talks' but had not reached a resolution. This Alliance, I reckon, is going to bump along on the bottom until one of the parties bites the bullet and comes straight out with a record of the issues dividing them, and how they plan to address it.

As Japanese companies are involved that's not how it works. In Japanese culture consensus must be reached behind closed doors, and only when it's been settled will any more public statements be issued. The Japanese never air their dirty laundry in public.

It is only a strong personality like Carlos Ghosn who could ever get a solution across the line - which is what Hiroto Saikawa did not like, and wanted him gone.

However, I'm told Renault's resolve remains strong and it may come down to it exerting a LOT of pressure on Nissan to stabilise the situation.

Remember, Renault owns 43% of Nissan, but Nissan only has a 19% stake in Renault, and no voting rights. Nissan has a huge cash pile which Renault has it's eyes on.

Watch this space - this saga is going to go on for some time, so it will feature many future instalments.

Maybe the business academies could serialise it, and create a podcast, of how NOT to manage an alliance.