Comments on: Ford’s Top Execs Meet With Kerkorian

By: John Horner

John Horner — Thu, 19 Jun 2008 22:13:56 +0000

There is a little more news leaking out about this situation today.

From Reuters:

http://biz.yahoo.com/rb/080619/ford.html?.v=7

“Billionaire investor Kirk Kerkorian raised his stake in Ford Motor Co (NYSE:F – News) to 6.5 percent this week and said he was willing to support the automaker’s turnaround with an infusion of additional capital.”

” Any additional capital from Kerkorian would be to give Ford more flexibility as it restructures, Tracinda said in the filing with U.S. securities regulators.

Kerkorian’s offer of additional capital raises questions about the long-term control of the company by the Ford family, which owns just 3 percent of the automaker’s stock.”

By: carlos.negros

carlos.negros — Thu, 19 Jun 2008 21:41:51 +0000

I had to do a second take of your headline. For a moment, I thought it read, Ford’s Top Execs Meet With Kevorkian. I thought they wanted to commit suicide. Actually, perhaps that would be the honorable thing to do.

By: John Horner

John Horner — Thu, 19 Jun 2008 14:00:15 +0000

GM never got any cash from Kerkorian, he bought those shares on the open market just as he has done so far with Ford. At one point he had bought almost 10% of GM’s shares on the open market, but he later sold most, if not all, of his holdings.

None of him money ended up in the GM treasury though as all of the transactions were between Kerkorian’s company and other shareholders. Just as GM doesn’t make any money if I sell you my used Chevy truck, they don’t make any money if already existing shares are traded between shareholders.

By: GS650G

GS650G — Thu, 19 Jun 2008 13:39:11 +0000

After GM finished wasting Kirk’s investment away you’d think he’d had enough of the auto industry.

By: Robstar

Robstar — Thu, 19 Jun 2008 13:14:43 +0000

Shouldn’t they be meeting with Kevorkian?

By: guyincognito

guyincognito — Thu, 19 Jun 2008 13:01:33 +0000

Said Jerry York at the end of the meeting, where the Ford execs wimpered and pleaded for what little Kerkorian would spare them, “Well, Sir, you’ve certainly vanquished all your enemies: the
Elementary School, the local tavern, the old age home…you must be very proud.”

Kerkorian responded, “No, not while my greatest nemesis still provides our customers with free light, heat and energy. I call this enemy…the sun. Since the beginning of time man has yearned to destroy the sun. I will do the next best thing…block it out!”

By: GS650G

GS650G — Thu, 19 Jun 2008 12:51:08 +0000

Ask Kirk what the score is. Must be pretty high because he is smiling.