Now, this is one news I am happy in a "twisted" way. I never really liked Kerkorian. To me, he seemed like a corporate raider, who would sneakily build up his shares in a company, and then announce to the world that he is buying a large share in that said company. All other investors then like a herd start buying up the stock of the company, which of course skyrockets the stock price. After accumulating enough stake through his company Tracinda, he would then say he isn't satisfied with the way the company is running and wants one of his own in the board of directors, or Sell the company in bits and pieces to other interested buyers that is his game plan, if he doesn't get his way, he would sneakily sell his stake and leaving all the shareholders who joined him in lurch.
That basically rounds up my opinion of Kerkorian. He did the same to GM when he bought up shares in GM and then tried to have it merge with Nissan-Renault, when that failed he ditched, crippling GM stocks. After that episode, he tried his hand with Chrysler in 2007, which of course failed and fell into the hands of Cerberus Capital Management (Which of course didn't do Chrysler any good). Post Chrysler Episode, Mr. Kekorian tried his hand with Ford Motor Company, and then to make sure his investment returned profit, he announced that he was going to buy up more Ford stock as he believes the management is good and will return the company to profitability. Now, with the recent high gas prices and financial crisis, Ford Motors tumbled and his investment in Ford Motor Company turned sour.
Now, maybe he is a good guy in personal life, but the way he went about trying to acquire the Big 3 Automakers, and then get other investors on board, has made me despise him in a way. As a billionaire, I am sure he won't be miss a few hundred millions or even a billion, as he has quite a few of them lying around.Kerkorian's Tracinda Ditches Ford
Ford Stock
Detroit Automakers Bailout
Is Chrysler is Going to Go Bankrupt?
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