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10-21-2008, 03:11 PM
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Hummer Guru
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Join Date: Dec 2005
Location: In a FREE U.S.A. where Marxism, Socialism & Communism is not allowed !
Posts: 5,485
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Kerkorian selling large stake in FORD...!
Kerkorian cuts Ford stake; could sell all shares
 Kirk KerkorianDETROIT (Reuters) -- Billionaire investor Kirk Kerkorian sold part of his 6.5 percent stake in Ford Motor Co. and could sell the rest of his stake in the automaker, Kerkorian's investment vehicle Tracinda Corp. said today.
The move comes after a more than 60 percent decline in Ford shares since Kerkorian raised his stake to 6.5 percent in June and said he was willing to support the automaker's turnaround with an infusion of additional capital.
Tracinda, which has invested about $1 billion in Ford, said in regulatory filings it sold 7.3 million Ford shares on Monday in the open market for an average price of $2.43 per share.
Tracinda intends to further reduce its holdings, including the possible sale of all of its remaining 133.5 million shares, or about a 6.09 percent stake, ...
 story
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10-21-2008, 06:56 PM
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Hummer Guru
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Join Date: Jul 2006
Location: Stouts Creek
Posts: 4,192
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Re: Kerkorian selling large stake in FORD...!
Guess he isn't driving a F 150 any more...
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10-21-2008, 10:59 PM
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Hummer Guru
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Join Date: Dec 2005
Location: In a FREE U.S.A. where Marxism, Socialism & Communism is not allowed !
Posts: 5,485
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Re: Kerkorian selling large stake in FORD...!
no---guess not !!!
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REMEMBER
History, be it in 1 Year, 10 Years, a Hundred Years or One Thousand, will show that those people who voted for John McCain in the United States Presidental Election of 2008 were true patriots...
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10-22-2008, 04:59 AM
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Hummer Messiah
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Join Date: Apr 2003
Location: Virginia Beach
Posts: 37,474
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Re: Kerkorian selling large stake in FORD...!
Wow, it's obvious he has no confidence in Ford.
Otherwise, he'd be buying at the discount price and could grab an incredible number of shares. Possibly enough to gain control.
Without doing the math that looks like a lose, if Tracinda sold all their shares right now, of about 600 mil.
Wish I could afford to lose that........
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"My reading of history convinces me that most bad government results from too much government."---Thomas Jefferson
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