Breaking! Kerkorian Goes On A Selling Spree, Cuts Stake In GM Stock By Half

Looks like KirkKerk wants very little to do with the world's largest automaker — the corporate raider's company, Tracinda, is cutting it's shares again — and this time it's in half. Kerkorain's cutting his stake down to a paltry 4.95%, or 28 million shares — a level that will ensure he won't be able to do much more than raise his hand come time for the annual shareholder meeting. And I think that noise I can hear right now in the distance is the General's General — Rick Wagoner — giggling from atop the RenCen.

Kerkorian will sell 14 million more shares of GM stock [Freep]

Related:
Black Friday Comes Early For Kerkorian: Corporate Raider Cuts GM Holdings [internal]