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Kerkorian says he will take a hands-off approach if Ford approves 20 millio
2008-05-14 03:31:00 Kerkorian says he will take a hands-off approach if Ford approves 20 million share deal Kirk Kerkorian — the man who is trying to acquire an additional 20 million shares of Ford — may have taken an active role while he was an investor at General Motors and Chrysler, but the billionaire investor says he will take a hands-off approach with Ford. Kerkorian's company — Tracinda Corp. — currently owns 100 million Ford shares. The bump to 120 million shares will increase Tracinda's stake to 5.6 percent ownership of Ford, which is usually good enough for a voice in the board room. However, Tracinda said in a filing that it has no intentions of influencing Ford's business decisions. There is no "present intent to acquire or influence control over Ford," Tracinda said in a filing with the Securities and Exchange Commission. "We are making the offer because we believe Ford is an attractive investment." However, in the same filing, T...
Kerkorian And Ford: Why Does He Want Bigger Stake In Company?
2008-04-28 14:42:00 Posted By:Phil LeBeauHow's this for an intriguing move. Tracinda Corp., the investment firm representing the vast interests of billionaire investor Kirk Kerkorian is tendering an offer to take a greater stake in Ford Motor Company. Read More Topics:Automobile IndustrySectors:Automobiles and PartsCompanies:Ford Motor CompanyMEDIA:PHOTO Permalink
By: Behind The Wheel
Kirk Kerkorian: Could He Make A Play For Chrysler?
2008-02-08 21:58:00 Posted By:Phil LeBeauBy now, you've probably have seen the headlines or stories about Kirk Kerkorian's advisor Jerry York giving a pessimistic view of Chrysler's future. After speaking here in Chicago, York was asked about the prospects for the struggling automaker to turn things around. York said, "Chrysler as a stand-alone company is not viable." Read More Topics:Economy (U.S.) | Automobile IndustrySectors:Automobiles and PartsMEDIA:PHOTO Permalink
By: Behind The Wheel
Usually a Contrarian Investor, Kerkorian Takes Aim at Bellagio, City Center
2007-05-22 14:42:00 In recent years billionaire investor Kirk Kerkorian and his investment company Tracinda Corp. have been focused on potential value in beaten down automobile companies like General Motors (GM) and Chrysler. However, despite a huge upward revaluation in Las Vegas properties during that time, evidently he still sees value in that area.Monday we learned that Kerkorian is interested in acquiring the Bellagio hotel and casino as well as a new development project, City Center, which is set to open in 2009. Kerkorian is the majority owner of MGM Mirage (MGM) with a 56% stake in the gaming giant, worth about $10 billion before his intentions were made public. MGM shares rallied 10 points in after-hours trading Monday to $73 per share on the idea that Tracinda might wind up taking MGM private at some point down the line.The announcement is interesting given Kerkorian's recent foray into domestic car companies at very depressed prices. MGM Mirage is not a cheap stock (about 12 times 2006 cash...
Kerkorian's Chrysler bid spurs a rally
2007-04-17 21:22:00 The Dow rises 30 points after Kirk Kerkorian offers $4.5 billion for Chrysler, hoping the United Auto Workers and management will join his group. Celgene's cancer drug gives shares a boost. Micron reports a loss. Stock markets will be closed tomorrow for Good Friday.
Kerkorian Envisions True Partnership With UAW
2007-04-12 10:45:00 Kirk Kerkorian, the American billionaire and CEO of Tracinda Corporation, envisions a “true partnership” with the United Auto Workers (UAW). The aim of the billionaire is to foster equal sharing in the “risks and rewards” of his $4.5 billion bid to buy the Chrysler Group. In a statement made Friday, Kerkorian said his plans are ...
By: MotorCarInfo.com
Kerkorian Makes Offer for Chrysler
2007-04-11 02:16:00 Kirk Kerkorian's Investment Company Tracinda Makes $4.5 Billion Cash Offer for Chrysler. In 1995, he offered $22.8 billion for Chrysler in an unsuccessful takeover bid.
Kerkorian woos autoworkers
2007-04-07 18:54:00 DETROIT, April 7: U.S. investor Kirk Kerkorian has differentiated his offer for Chrysler from competing bids by promising a "true partnership" between management and labor.
By: newkerala.com
Kerkorian goes after Chrysler?again
2007-04-06 15:47:00 From NPR: “Investor Kirk Kerkorian has bid $4.5 billion to buy the troubled automaker Chrysler from its German parent. At least two other investment groups have reportedly expressed interest in buying Chrysler. The Kerkorian offer would offer equity stakes to the United Auto Workers and senior Chrysler managers.”
By: Linkbox
On Investing Like Billionaires The Cases of Kerkorian and Buffett
2007-03-29 16:34:00 Geoff Gannon has some great points in this article. I recommend everyone reading it. He talks about track records, and rebuffs Ken Fisher's book, The Only Three Questions That Count. Ken Fisher was going on in his book how Warren Buffett not being a money manager, and Geoff feels he couldn't be further from the truth. Read the article to find out why. |
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