Entries tagged "Tracinda"
In its "Overheard" column, The Wall Street Journal pokes fun at 90-year-old billionaire investor Kirk Kerkorian in Friday's edition, saying Tracinda Corp.'s would-be investment in San Antonio refiner Tesoro Corp., which resisted his advances last year, would have landed him a loss roughly double that of the $715 million bath he's taken on Ford Motor Co. The Journal reports he now sees "unique value" in gambling and energy stocks. ...
Reading Kirk Kerkorian's comments backing Ford Motors Co. and its CEO Alan Mulally, it is hard not to think of the famous fable "the scorpion and the frog," which tells of the arthropod who goes back on its word and uses its stinger, explaining "I'm a scorpion; it's my nature." And those sorts of thoughts should be enough to give Mulally and Ford pause despite all of the automaker's takeover defenses and its considerable progress in recent quarters....
Ford Motor Co. received a vote of confidence Monday when billionaire investor Kirk Kerkorian's Tracinda Corp. purchased 20 million shares, or 1% of the company, for $8.50 a share for a total of $175 million. The purchase adds to Tracinda's 4.7% holding in Ford. ...
