#GovernmentOwnership

The battle between Nissan and the French government over the former’s voting stake in the Renault-Nissan Alliance continues on.

This month, after temporarily raising its stake to 19.7 percent, the French government cut back its stake to around 15 percent, which is still enough voting power under the Florange Law to block anything it didn’t like from Nissan and its allies during shareholder meetings.

However, second-in-command at Nissan, Chief Competitive Officer Hiroto Saikawa, expressed it wasn’t enough to go back to “the situation of seven months ago,” desiring “a better balance between the two companies,” a source told Reuters.

Instead, Nissan responded to the draw-down with a proposal establishing a “better-balanced” 25-percent/35-percent crossed shareholding, with Nissan finally having a say after 16 years of merely owning a piece of the company which rescued it from death back in 1999.

Ally Financial, the lending artist formerly known as GMAC Financial, inches closer to freedom from government ownership as the United States Treasury begins a second trading plan to shed its shares.

In today’s General Motors digest: An ignition-related issue is quietly fixed years before the February 2014 recall; a Chinese supplier is blamed for defective switches recalled in June; Ally prepares to take flight from the Beltway; and Mark Reuss helps bring back a Corvette stolen 33 years ago.

With Ally Financial’s IPO now making the rounds on the New York Stock Exchange, the former financing arm of General Motors has its eyes on taking more of the subprime market, a move benefiting dealers once the last ties to the U.S. federal government have been severed and sold to the stock market.

Automotive News reports dealers are still waiting for the ignition switches meant to replace the out-of-spec switch at the center of the ongoing recall crisis at General Motors. The switch was to have arrived at dealerships beginning this week, yet most dealers are in a “holding pattern” on deliveries. Once the parts do arrive, service bays will begin work on affected customer vehicles immediately before turning toward the used lot, where vehicles under the recall are currently parked until the customer vehicles are fixed.