Kerkorian also tried to get into Ford. He ruffled a lot of feathers in both companies. In the case of GM he tried to get Renault-Nissan to buy into GM after he bought a lot of GM stock. If the deal had gone through he would have made a lot of money as GM stock prices would have risen.
In both companies, his meddling efforts failed, stock prices dropped and he lost a lot of money. In the case of Ford, he lost half a billion at last count.
If anyone wants to know how Kerkorian handles a company, study his ownership of MGM. MGM was stripped of virtually all its assets and the only one to make money on the venture has been Kerkorian.
As you say, vultures all. They're not interested in saving jobs or companies, just stuffing their bank accounts.
Bill Vancouver, BC----- Original Message ----- From: "Doug Jacobsma" <big_jake57@xxxxxxxxxxx>
To: <1962to1965mopars@xxxxxxxxxx> Sent: Monday, November 03, 2008 6:36 PM Subject: RE: GM-Chrysler Merger Talks to Intensify After Election
The last article I read on the GM buyout was that they would keep the mini vans possibly, and keep or sell Jeep. Viper seems to have a buyer as well. The rest will just be gone, although Nissan has wanted the new Ram even before the buyout talks began. Sounded like they would put Titan bodies on the Dodge running gear. Cant find the article back now. According to what I read at that point tho, the cash Chrysler had layin around was pretty much all that GM was after. Kerkorian would have been no better than Cerberus, and didnt he cause a bunch of grief for GM just a couple years ago? Vultures all.To: 1962to1965mopars@xxxxxxxxxx From: wwatson6@xxxxxxx Subject: Re: GM-Chrysler Merger Talks to Intensify After Election Date: Mon, 3 Nov 2008 17:42:21 -0800 Right now GM owns 49% of GMAC. Cerberus owns the other 51%. Which is why Cerberus is at GM's door - I give you Chrysler, you give us 49% of GMAC - that sort of stuff. And GMAC is not in good shape. They got into the housing mortgage market, and I think you can take it from there. GMAC is presently lining up forfederal mortgage money and wants to change over to a bank classification toopen up a wider source of working capital.Another thought came to mind - what of Chrysler Financial? What happens toit? CF never got into mortgages so it should be doing well. All GM comes away with is a duplicate of itself, on a smaller scale,including dealers they don`t need. They get the Jeep and Caravan, both good sellers and moneymakers when the market is good. Plus a pile of cash that,hopefully, will cover the bills for less than a year. All else is awrite-off. Other than the cash there really is nothing there to help GM ina turnaround situation. Bill Vancouver, BC
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