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?

  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.


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

  7. #10     Dec 2, 2006