http://cache.gawker.com/assets/base/img/thumbs140x140/jalopnik.com.png http://jalopnik.com/tag/tracinda buys ford http://jalopnik.com/tag/tracinda buys ford 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 KirkKerk is going for an automaker trifecta after past activities like buying a major portion of GM (then selling it), trying to buy all of Chrysler (and losing), and now getting into the 5.5% ownership range of Ford. Apparently falling market share but improving profit trends creates a mixed message that Tracinda is willing to stake a little coin on this quarter. [Reuters]

]]> Mon, 28 Apr 2008 10:00:00 EDT Ben Wojdyla http://jalopnik.com/index.php?op=postcommentfeed&postId=384644&view=rss&microfeed=true