Reactions to story from Autoblog

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  Kerkorian not likely to be hands-off Ford investor

  http://www.seekhub.net/ramdom-concept-cars/kerkorian-not-lik...
  205 days ago in The Gadget and Concept Car Playground · Authority: 20

  Kerkorian not likely to be hands-off Ford investor Filed under: Etc., Ford, Earnings/Financials There’s no indication that a leopard has ever changed its spots, so while Kirk Kerkorian and his Tracinda Corporation are making noises like they’ll strive to be hands-off Ford shareholders, we’d expect some eventual attempts at steering the automaker from the board. As part of an offer to purchase more shares, Tracinda Corp. stated to the Securities and Exchange Commission that it has no intent to gobble up or influence Ford. The Las Vegas-based investment firm went on to say that it will continue to monitor the performance of its holding, and may suggest business moves to the automaker. Jerry York apparently took this to heart when he started mouthing off about what Ford should do with Volvo and Mercury, but that statement has since been rescinded as “shooting from the hip.” It would not be a surprise, given the past attempts of Kerkorian and his toadies to direct the course of General Motors and Chrysler, that he once again start to make aggressive attempts at directing the moves of Ford. Tracinda is Ford’s largest shareholder, though the hierarchy of Ford’s board gives the family a lot of voting muscle. Kerkorian’s most recent offer to Ford is for an additional 20 million shares at $8.50 per share, as well as the future prospect of a cash infusion to offer the turnaround plan further liquidity and thus, flexibility. Ford is mulling Kerkorian’s bid, but the turnaround plan was put together without Tracinda’s money, and can proceed without it, though more money on hand would allow Ford to accelerate its plans. Everyone’s playing it cool, though meetings between Bill Ford Jr., Alan Mulally, and Kerkorian are ongoing, and the board of directors has promised a response to Kerkorian by May 22nd. [Source: Detroit News, Photo: Detroit News] Read | Permalink | Email this
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  Kerkorian buys more of Ford than planned

  http://barbarawoodhouse.net/2008/06/19/kerkorian-buys-more-o...
  168 days ago in Barbara Woodhouse Car Blog · Authority: 1

  Filed under: Ford, Earnings/Financials Back in April, Kirk Kerkorian claimed he wanted to buy an extra 20 million shares of Ford Motor Co. That would have given him a total of 120 million shares and 5.6% of the Dearborn-based automaker. We learn today that Kerkorian took advantage of the demand for his offer of $8.50 per share and bought more than twice the amount of shares he originally intended. Tracinda Corp., Kerkorian's investment company, now owns 140.8 million shares of FoMoCo and a 6.49% stake in the automaker. He also now has a full $1 billion invested in the Dearborn automaker and has made it known that he is behind Ford's turnaround effort. This increased investment is surely putting your money where your mouth is. The filing with the Securities and Exchange Commission hints that Kerkorian might sink more funds into Ford in order to save its money-losing U.S. operations. Kerkorian will also likely be in a position where he feels comfortable suggesting business strategies to get Ford back in the black. That could make him what they call an activist investor, a title Kerkorian's held at Chrysler and GM in the past. So much for those theories that he might remain hands-off. Ford CEO Alan Mulally, Executive Chairman Bill Ford and Kerkorian just met a couple of days ago to talk about Ford's turnaround plan. Now that Kerkorian owns more of FoMoCo than the Ford family itself who owns just 3%, some might be scared by the quick move Tracinda has made. Never fear for the Ford family, however, as their minor stake is comprised of a special class of stock that gives them 40 percent of the voting power. [Source: Automotive News, sub req, Photo by KAREN BLEIER/AFP/Getty] Read | Permalink | Email this | Comments
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  Kerkorian buys more of Ford than planned

  http://www.frenzycars.com/2008/06/19/kerkorian-buys-more-of-...
  168 days ago in Cars Blog · Authority: 4

  Kerkorian buys more of Ford than planned June 19th, 2008 Filed under: Ford, Earnings/Financials Back in April, Kirk Kerkorian claimed he wanted to buy an extra 20 million shares of Ford Motor Co. That would have given him a total of 120 million shares and 5.6% of the Dearborn-based automaker. We learn today that Kerkorian took advantage of the demand for his offer of $8.50 per share and bought more than twice the amount of shares he originally intended. Tracinda Corp., Kerkorian’s investment company, now owns 140.8 million shares of FoMoCo and a 6.49% stake in the automaker. He also now has a full $1 billion invested in the Dearborn automaker and has made it known that he is behind Ford’s turnaround effort. This increased investment is surely putting your money where your mouth is. The filing with the Securities and Exchange Commission hints that Kerkorian might sink more funds into Ford in order to save its money-losing U.S. operations. Kerkorian will also likely be in a position where he feels comfortable suggesting business strategies to get Ford back in the black. That could make him what they call an activist investor, a title Kerkorian’s held at Chrysler and GM in the past. So much for those theories that he might remain hands-off. Ford CEO Alan Mulally, Executive Chairman Bill Ford and Kerkorian just met a couple of days ago to talk about Ford’s turnaround plan. Now that Kerkorian owns more of FoMoCo than the Ford family itself who owns just 3%, some might be scared by the quick move Tracinda has made. Never fear for the Ford family, however, as their minor stake is comprised of a special class of stock that gives them 40 percent of the voting power. [Source: Automotive News, sub req, Photo by KAREN BLEIER/AFP/Getty] Tags: cars, diy-life, engadget, fathers-day-sweepstakes, gadling, golf, green-daily, kirk-kerkorian, kirkkerkorian, money, movies, nascar, sports, television, tracindacorp-, travel, web Posted in cars

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