On July 7 General Motors’ board of directors voted to study the pros and cons of entering into a three-way alliance with automakers Nissan and Renault. The alliance was proposed by GM shareholder Kirk Kerkorian who sees it as a way to revive the struggling company and expedite the restructuring taking place under GM’s current chairman and CEO Rick Wagoner. Another central figure in this drama is Carlos Ghosn CEO of Nissan and Renault who is credited with turning around Nissan and who is seen by Kerkorian and others as holding the keys to GM’s future. What would a three-way alliance mean for GM and for the auto industry in general?