kerkorian is a stud

Discussion in 'Trading' started by niceneasy, Dec 2, 2006.

  1. i really like this story. guy got involved with gm - thought he could do some good and make some money. didnt like what he saw - cut out with a miniscule loss... guys a champ. keep your losers small. doesnt want to fight with the board...thinks wagoner is a chump. on to the next deal.
     
  2. nkhoi

    nkhoi Moderator

    he just cut back a bit; 9.9 to 7.4%

    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 two days before the biggest shopping day of the year that a decent chunk of his shares will be up for sale as well. KirkKerk filed a regulatory whatever to tell the world he'll be selling 14 million shares of stock in the General -- dropping his stake in the Detroit-based automaker from 9.9% to 7.4%. No coincidence we're assuming with the fact that his company, Tracinda, also announced plans to offer $55 a share in cash for 15 million shares of MGM Mirage Inc. -- looks like somebody needed to pay for a little stock purchase. – Ray Wert
     
  3. Funny, I viewed this as a blunder and an embarrassment.

    Did he research this and think it through? Martini's very, very dry please. Sign here and here and here..

    Almost as if he rushed in half-cocked, only to bail before he got screwed.

    Yeah, I admire moves like these. I wonder how his chess game is?

    You did say kevorkian, correct?

    [​IMG]
     
  4. He sold the rest to bank of america. he's out of gm.

     
  5. He came out net-positive on the deal. The man is worth $9bb, I think he's done a shade better than ok for his family. It would be nice to make a $1bb error and still come out ahead of the game.

    I'd pat myself on the back for making that kind of bid mistake.

    :D

     
  6. Yes of course....I was having some fun and thus the little laughing smiley man.

    :D
     
  7. #10     Dec 2, 2006