Discuss Detroit » Archives - Beginning July 2006 » Kerkorian to cut GM stake to 4.95 pct « Previous Next »
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Viziondetroit
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Username: Viziondetroit

Post Number: 958
Registered: 11-2003
Posted on Thursday, November 30, 2006 - 4:07 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Kerkorian to cut GM stake to 4.95 pct By Jui Chakravorty
1 hour, 2 minutes ago



Billionaire Kirk Kerkorian's Tracinda Corp. investment firm said on Thursday it had agreed to sell another 14 million shares of General Motors Corp., cutting his stake in the automaker to half of what he owned earlier this year.

http://news.yahoo.com/news?tmp l=story&u=/nm/20061130/bs_nm/k erkorian_tracinda_dc_1
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Gannon
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Post Number: 7288
Registered: 12-2003
Posted on Thursday, November 30, 2006 - 4:42 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Is this the billion-dollar version of "you won't play my way so I'm taking my ball?"
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Viziondetroit
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Username: Viziondetroit

Post Number: 959
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Posted on Thursday, November 30, 2006 - 4:49 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Pretty much.. you know he was trying to strong arm his boy on the board of directors.

I hope after all of this, he is realizing a gain. That's a nice commission for someone.
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Gannon
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Username: Gannon

Post Number: 7290
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Posted on Thursday, November 30, 2006 - 4:52 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Gain might be in the getting out before it gets worse.
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Ptero
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Username: Ptero

Post Number: 62
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Posted on Thursday, November 30, 2006 - 11:21 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Fox2 hinted at this at 6pm, and Channel 4 has it now at 11...

He is dumping ALL of his GM holdings. 14 million shares last week, then 14 million this morning took him to the 4.95% amount. Now he has sold the rest - 28 million. All together some $1.5 billion plus.

They said Bank of America took the chunk of 28 million shares.

AP report:
http://biz.yahoo.com/ap/061130/gm_kerkorian.html?.v=22


(Message edited by ptero on November 30, 2006)
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Detroitej72
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Username: Detroitej72

Post Number: 419
Registered: 05-2006
Posted on Thursday, November 30, 2006 - 11:42 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Good Ridence, F@#*ing Troll.
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Gravitymachine
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Username: Gravitymachine

Post Number: 1408
Registered: 05-2005
Posted on Friday, December 01, 2006 - 12:18 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

don;t let the door hit your ass on the way out kirk!
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Lmichigan
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Username: Lmichigan

Post Number: 4784
Registered: 10-2003
Posted on Friday, December 01, 2006 - 12:42 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Amen to that.
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Rhymeswithrawk
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Username: Rhymeswithrawk

Post Number: 159
Registered: 11-2005
Posted on Saturday, December 02, 2006 - 4:46 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Now maybe GM can focus on trying to save itself instead of trying to appease the kazillionaire from Las Vegas.

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