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

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

Tracinda To Expand Stake In Ford, Buy 20 Million More Shares

Kirk Kerkorian's Tracinda Corp is planning to add 20 million shares to its current pile of 100 million Ford Motor Company shares and is willing to pay $8.50 per share to do it. Trancinda made the announcement this morning to which Ford has responded with a "thanks for the vote of confidence" style statement. Seems… » 4/28/08 10:00am 4/28/08 10:00am

Was It Savvy Or Stupid For Chrysler To Close Its Cali Design Studio?

Beware the Ides of March. By now, Chrysler's Pacifica Design Center in Carlsbad, CA should be a warren of ghost-cubicles, with perhaps a few shreds of jettisoned sketches for futurecars scattered on the industrial carpeting, reduced to janitorial found art. The Pentastar has shut it down and concentrated "blue sky"… » 3/18/08 12:30pm 3/18/08 12:30pm

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

General Motors Provides "No Comment" On Chrysler Acquisition Rumors

We decided to call one of GM's masters of PR to ask about these rumors of a General Motors / Chrysler combination, but instead of providing a strong denial to the rumors begun early this morning, our sources at the General are doing nothing but claim "no comment." Not a "that's utterly preposterous" or even a… » 2/14/07 2:01pm 2/14/07 2:01pm

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

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