Just two days ago Kirk Kerkorian sold half his holdings in GM stock, and thenâthe next day, he unloads the rest of his GM stock. Hard to believe that just a few months ago he was playing such a large part in GM's future, and now he'll likely end up being a mere asterisk in the history of the corporation. Or maybe not...
"It appears that Kerkorian may now be out of his entire GM position," said John Murphy of Merrill Lynch, adding that Wall Street isn't counting Kerkorian out yet...
"We believe Kerkorian and York saw tremendous potential value in GM and therefore may be back at a more opportune time."
Full story here.
Here's Inside Line's He's Gone: Kerkorian Pulls Out of GM Investment article, and finally one more Kerkorian-drops-GM-related story.
Image: Bloomberg News
Full story here.
Here's Inside Line's He's Gone: Kerkorian Pulls Out of GM Investment article, and finally one more Kerkorian-drops-GM-related story.
Image: Bloomberg News
estreka says:
01:47 PM, 12/ 3/06
It's like a movie. "You haven't heard the last of me...I'll be back."
estreka says:
03:12 PM, 12/ 3/06
And actually I'm gonna defend Kerkorian. GM would still be spiraling down beyond the hopes of revival if Kerkorian hadn't jumped in. GM saw that Kerkorian posed a very potential threat to them and the result was a very abrupt turnaround effort. Look at Ford right now. That would be GM if he hadn't meddled.