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Saying his 37 percent stake in MGM Mirage should be worth more, billionaire investor Kirk Kerkorian said Tuesday that he may cut his investment in the struggling casino operator.
Billionaire investor Kirk Kerkorian bought 14.3 million more shares in MGM Mirage on Tuesday, but that wasn't enough to maintain his majority stake in the casino company as it issued new stock, regulatory filings show.
In a March 3 story about MGM Mirage Inc. reporting that it may default on its debt, The Associated Press erroneously reported that investor Kirk Kerkorian still holds a stake in Ford Motor Co. His holding company, Tracinda Corp., which sold part of its stake in Ford in October, sold the last portion in December.
Billionaire investor Kirk Kerkorian has sold his remaining 5 percent stake in Ford Motor Co., according to his investment company, Tracinda Corp.
A prominent Hollywood attorney was sentenced Monday to three years in prison in a wiretapping scheme that targeted the former wife of MGM mogul Kirk Kerkorian.
Billionaire Kirk Kerkorian's investment firm said Tuesday it sold part of its stake in Ford Motor Co., taking millions of dollars in losses on the investment and marking an abrupt about-face from the optimistic expectations he had for the automaker just four months ago.
Former Hollywood private eye Anthony Pellicano and his entertainment lawyer co-defendant were convicted Friday of charges linked to the wiretapping of billionaire investor Kirk Kerkorian's former wife in a child support battle.
Billionaire investor Kirk Kerkorian's Tracinda Corp. reported Thursday it has increased its stake in Ford Motor Co. to 6.49 percent and remains willing to consider supporting the automaker's turnaround effort with additional capital.
Ford investors flocked to Kirk Kerkorian's offer to buy 20 million additional shares of the company, a move that will help the billionaire investor increase his stake in the automaker to about 5.5 percent.
More than a decade later, Kirk Kerkorian can't seem to get Chrysler out of his mind.
General Motors Corp.'s board has decided to explore an alliance with Renault SA and Nissan Motor Co., bowing to pressure from dissident billionaire shareholder Kirk Kerkorian who has chafed over the pace of the turnaround plan at the world's biggest automaker.
Kirk Kerkorian, the billionaire mogul and major shareholder in General Motors Corp., said Friday that automakers Renault SA and Nissan Motor Co. are interested in purchasing a significant stake in GM and including the Detroit automaker in their alliance.
General Motors Corp. won't sell the Saab brand, the head of the automaker's European division said Tuesday, pledging support after an aide to billionaire investor Kirk Kerkorian suggested that it could be sold.
A prominent attorney who represented billionaire investor Kirk Kerkorian pleaded not guilty Tuesday in connection with a Hollywood wiretapping scandal.
General Motors Corp., which says a return to profitability will require sacrifices from all involved, announced plans on Tuesday to rein in white-collar pension and health care expenses, slash the dividend and trim executive salaries — moves some analysts say suggest it might seek benefit cuts from union workers.
Sorting through the automakers' mayhemIt's gut-check time in Detroit, as the highest-stakes game of chicken in automotive history hurtles forward. What will become of Chrysler? And of General Motors, for that matter?
Some funds quietly urge change - baltimoresun.comHigh-profile investors such as Carl C. Icahn have helped define the image of activist shareholders by storming into companies and pushing for change.
Iacocca's Book: 'Clueless bozos' are running the countryFormer Chrysler chairman Lee Iacocca tears into the Bush administration and the US auto industry in a new book, saying America's political leaders have failed the nation and urging voters to pick more carefully in 2008.
Kerkorian makes a bid for ChryslerDaimlerChrysler AG has received a surprise US$4.5-billion cash offer for its Chrysler Group from the same billionaire that tried to buy the American automaker more than a decade ago for five times the price.
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