GM Inside News Forum banner
1 - 20 of 20 Posts

·
Registered
Joined
·
4,225 Posts
Kerkorian seeks to boost Ford stake, citing solid turnaround

Kerkorian seeks to boost Ford stake, citing solid turnaround

DETROIT (AP) -- Billionaire Kirk Kerkorian plans to make an offer that would expand his stake in Ford Motor Co. to 5.6 percent, saying Monday he sees signs the automaker's turnaround plan is working.

Kerkorian's investment company, Tracinda Corp., said in a news release that it plans to offer $8.50 per share in cash for up to 20 million additional shares of Ford.

The offered price represents a 13.3 percent premium over Ford's closing price on Friday, and Ford shares rose more than 7 percent in premarket trading.

Tracinda said Ford's first-quarter results reinforced that the company is having success in its turnaround efforts, despite the difficult U.S. economy.

"Tracinda believes that Ford management under the leadership of Chief Executive Officer Alan Mulally will continue to show significant improvements in its results going forward," Tracinda said in the statement.

http://biz.yahoo.com/ap/080428/ford_kerkorian.html
 

·
Registered
Joined
·
6,484 Posts
luckily, Ford cannot be taken over - the way the Ford stock is set up, Ford family's 5% share has 60% voting rights .. . luckily - because Tracinda is bad news - wherever it goes.
Igor
 

·
Registered
Joined
·
5,014 Posts
Ohh Crap just went things looked good , I bet that if Ford post a lost in the 2 quarter he will start complaining that they need to sell Ford credit and need to merge with other automaker and that he wants his sidekid on the board, Ford family take a loan and buy some A class stock because this SOB could try in the next stockholder convention to strip the 40% voting power of the Fords family B stock

Igor the Ford family class B stock gives them 40% of the voting power, but im worried because if the class A stockholders vote to remove the familys voting power they could take it away and knowing KEVORKIAN he could try that
 

·
Registered
Joined
·
1,016 Posts
As someone already said, Fords board is a little different and the Kerkinator would have a tuff time making problems. Maybe he really is just going for the profits....(Wink, wink. Nudge, nudge. Say no more).
 

·
Registered
Joined
·
13,043 Posts
Ohh Crap just went things looked good , I bet that if Ford post a lost in the 2 quarter he will start complaining that they need to sell Ford credit and need to merge with other automaker and that he wants his sidekid on the board, Ford family take a loan and buy some A class stock because this SOB could try in the next stockholder convention to strip the 40% voting power of the Fords family B stock

Igor the Ford family class B stock gives them 40% of the voting power, but im worried because if the class A stockholders vote to remove the familys voting power they could take it away and knowing KEVORKIAN he could try that
Not going to happen. Kirk's in this to make some profits from Ford's rising stock, and is not going to try any corporate wrangling. I dare him to try and track down another 45% of Ford common stockholders to attempt to strip the Ford family of their voting power.
 

·
Registered
Joined
·
9,066 Posts
Here we go again!! Now let see if he can bully the Ford family into joining up with another auto company...
a bit too late to dance with Ghosn since now he beginned to dance with Chrysler :D:lmao: However I read once recently a French article then Christian Streiff, current CEO of Peugeot-Citroen begins to think of an "alliance" and since Peugeot is in joint-venture with Ford for diesel engines, I wouldn't be surprised to see more ties between them.
 

·
Registered
Joined
·
6,021 Posts
I hope he is just going to use this as an investment and not try and manage Ford. He has shown he doesn't know his *ss from a hole in the ground when it comes to the Automotive world!
 

·
Premium Member
Joined
·
4,637 Posts
l thought we had all seen the last of him after he tried his little stunt over at GM. Kerkorian is bad news and he has proved to be an unwelcome pest when it comes to the automotive world
 

·
Registered
Joined
·
327 Posts
l thought we had all seen the last of him after he tried his little stunt over at GM. Kerkorian is bad news and he has proved to be an unwelcome pest when it comes to the automotive world
:lmao:

Your Kidding Right, We'll never see the last of Kirk or Carlos.

When one shows up the other will follow soon after.
 

·
Registered
Joined
·
9,066 Posts
:lmao:

Your Kidding Right, We'll never see the last of Kirk or Carlos.

When one shows up the other will follow soon after.
I think Carlos is a bit too besy to dance with Chrysler actually
http://www.topspeed.com/cars/car-news/-can-nissan-rescue-chrysler-ar56274.html
here a short exterpt
That being the case, there is reason to believe that Nissan would not have made this deal, or the one that preceded it, were it not part of a longer-term plan. Nissan CEO Carlos Ghosn, pictured, has been looking for an American partner in his automotive “alliance” with Renault for several years, and it appears that he’s now found one. It may not be the prettiest girl at the ball, but at least he’s found someone with whom to dance.
I guess Captain Kirk might find a new partner to dance with Ford :rolleyes::lmao:
 

·
Registered
Joined
·
327 Posts
I think Carlos is a bit too besy to dance with Chrysler actually
http://www.topspeed.com/cars/car-news/-can-nissan-rescue-chrysler-ar56274.html
here a short exterpt


I guess Captain Kirk might find a new partner to dance with Ford :rolleyes::lmao:
I left my point a little unclear there. When I said the other will soon follow, I was refering to the fact that when One shows up in the news the other will popup in the news soon after. Maybe not always at the same company's door step. However, When Kirk or Carlos name pops up in the news watch out because the other is going to start some trouble too. Just Hope its not at the same Company's door step.

Maybe Ford will piss off Kirk enough to dump his shares, then again the same trick usually doesn't work twice. That card has already been played Once.

The name on the Company that played that card escapes me:rolleyes: .
 

·
Premium Member
Joined
·
9,366 Posts
Oh boy! He's definitely bad news. Like igor said though, the way the Ford family has the stock set up it prevents the same situation from happening.
 

·
Premium Member
Joined
·
4,637 Posts
:lmao:

Your Kidding Right, We'll never see the last of Kirk or Carlos.

When one shows up the other will follow soon after.
More like half asleep (I got home from three plus hours of college before i typed). Anyway the fact that Kerkorian is once again trying to intimidate one of the big three is an unwelcome distraction especially in a time when ford is undergoing important changes. The one thing I'm grateful for is the way fords corporate system is set up to prevent takeovers from powerhungry dimwitted people like kirk Kerkorian
 
1 - 20 of 20 Posts
Top