Kerkorian Knows "Step 2"...For Tracinda!


It's always nice to be able to get your company and its investments in the black. Billionaire investor, financier and top GM shareholder, Kirk Kerkorian certainly knows how to make a profit (the key being, of course, a necessary understanding of Step 2) — at least for Tracinda Corporation, his child holding company and its 56 million shares of General Motors stock. Since pushing this whole GM-Renault-Nissan thing on June 30th, GM's stock's risen 7.9% — part of a total 53% gain on the year. That means KirkKerk's Tracinda's net investment of $1.52 billion is now up to around $1.66 billion given GM's close of $29.62 on Wednesday on the NYSE. Not too shabby for a one year investment if you ask us — it pretty much blows our money market fund out of the water. Man, we gotta move our banking.

Tracinda back in black on GM stake [Detroit News]

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More on GM-Renault-Nissan [internal]