Kirk Kerkorian May Lose $670 Million On Ford Gamble

We wondered if Kirk Kerkorian » 10/21/08 3:30pm 10/21/08 3:30pm wasn't just a when he bought a after and unsuccessfully attempting to . News that he's now has some estimating that Kerkorian, who owns the primary stake in MGM Grand, lost upwards of $670 million on his gamble. The math below the jump. Kerkorian's company, Tracinda Corp., added…

Ford Meets With Tracinda, Probably Asked Kerkorian Not To Hurt Them

The week after taking a 5.5% stake in Ford Motor Co., representatives of investment tycoon and corporate raider Kirk Kerkorian's Tracinda Corporation had a little chat with Ford CEO Alan Mulally and executive chairman Bill Ford to discuss [random speculation]. While the meeting was described by Ford representatives as… » 6/18/08 8:40am 6/18/08 8:40am

It's Easy Being Greedy: Kerkorian Tender Offer To "Easily" Net 5.5% Ford Stake

We'll tell you this much — Kirk Kerkorian knows how to play the auto industry like a fiddle. The man can turn a quick buck out here in Detroit like a street corner vendor selling Red Wings championship gear. Long-term success? Ha! Who needs it? Not when you can parlay a stock price up high enough to pull in… » 6/10/08 11:10am 6/10/08 11:10am

Kirk Kerkorian: 5.5% Of Ford Or Another Shutout?

Some of you may remember that way back on May 9, Kirk Kerkorian, America's favorite nonagenarian billionaire, made a cash purchase offer for 20 million Ford shares at $8.50 apiece. Well, that offer expires today at 5 pm. If Ford accepts the offer, Kerkorian's Tracinda Corp would pay a premium to attain a 5.5% stake in… » 6/09/08 9:20am 6/09/08 9:20am

Kirk Kerkorian: Mad Money Or Just Mad?

We got a call early this morning with someone telling us that Kirk Kerkorian and Tracinda had just moved to buy more of FoMoCo. Having endured a late night, we promptly fell back asleep. Upon waking up we had to run to the computer to double check that wasn't some sort of weird dream (like the one where Bob Lutz hunts… » 4/28/08 11:40am 4/28/08 11:40am

Chrysler Group Sales Speculation — Taken For A Ride II: Judgement Day

Everyone knows who Bill Vlasic is right? He's the Detroit News reporter who co-wrote the definitive account of the how Chrysler and Mercedes became the stilted and fubar married couple they are today. Vlasic and co-author Bradley A. Stertz's "Taken For A Ride" starts with an attempted takeover by a certain peppermint… » 4/05/07 4:08pm 4/05/07 4:08pm

Breaking Bigger, Longer And Uncut! WSJ Reports Kirk Kerkorian Sells Entire Stake Of General Motors Stock

The dream is — according to the Wall Street Journal anyway — dead. The Journal's reporting that the man with the plan's sold not just half of his stock in the General as we reported earlier — but all of his stock in the biggest n' baddest automaker in the world. KirkKerk has left the building, and with him — all hope?… » 12/01/06 12:01am 12/01/06 12:01am

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… » 11/30/06 5:22pm 11/30/06 5:22pm

Black Friday Comes Early For Kerkorian: Corporate Raider Cuts GM Holdings

First he tried to align the General with Renault-Nissan, next he said he wasn't going to be buying any more stock — worrying the General's brass that a proxy fight was in the works — and now he's decided the thought of a proxy battle's just not going to solve anything. The man with the big wad of cash just announced… » 11/22/06 6:34pm 11/22/06 6:34pm

Taste The Excitement! Jerry York's Resignation Is Kirk Kerkorian's First Step In All-Out War Against The General?

Ok, we're still digesting this one but it seems that we shouldn't be worried about who'll be bringing the fire to shove under Rick's backside after GM Board member Jerry "Peppermint Patty" York announced his resignation earlier today. The fire's still there — and it's in the form of a potential hostile takeover.… » 10/06/06 2:23pm 10/06/06 2:23pm

Breaking! Jerry York Resigns From GM Board Of Directors — Will He Take Fire With Him?

Automotive News is reporting what folks have been speculating about all week after the GM-Renault-Nissan talks were axed — Jerry York, the Kirk Kerkorian flunky and member of the GM board of directors, has resigned from the General's board, according to a filing today with the Securities and Exchange Commission. In… » 10/06/06 1:44pm 10/06/06 1:44pm

Breaking! Kirk Kerkorian's Got A Stomach For More GM

KirkKerk, like the Mona Lisa, has a dangerous smile when he's thinking about his beloved loved despised General Motors. Guess he and his hetero life partner, Tracinda, are thinking about what they'll do once they've snagged off of the street up to 12 million more shares of the company, which would give it more than a… » 9/28/06 11:52am 9/28/06 11:52am

Breaking! Ford To Go All Meta And Sell Pieces Of Self To Former Self Nasser?

Bloomberg News's reporting FoMoCo's in talks to sell some of its luxe brands from its Premier Automotive Group (NAMBLA) with a group led by none other than former Ford Chief Executive Officer Jacques Nasser. This is the same guy who FoMoCo's board fired just five years ago after the whole Firestone tires thing — and… » 8/25/06 10:44am 8/25/06 10:44am

Kerkorian Warns What? The Times' Micki Maynard Interviews Tracinda's "Spokesperson"

Yeah, it's total speculation on our part but we can't think of anyone else Micki would be talking to with this kind of knowledge of the direction Tracinda's looking to take with GM — save Kirk Kerkorian or Jerry York or one of their inner circle. We're ruling out usual suspect Anthony Mandekic, who's usually more… » 7/06/06 7:20pm 7/06/06 7:20pm

Could Kerkorian Push GM Into Ghosn Renault-Nissan?

According to the AP, KirkKerk's Tracinda Corp, which owns nearly a 10th of GM, in a partnership with Renault and Nissan, could easily purchase 30% of the ailing American automaker, giving them a hefty vote on the board, and possibly ending Rick Wagoner's lifelong career with the General. Some are for the deal,… » 7/05/06 9:30pm 7/05/06 9:30pm