Comments on: Kerkorian to halve GM stake http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html Car news, reviews, and specs for the auto-industry Sun, 21 Mar 2010 08:29:16 -0400 http://wordpress.org/?v=2.8.6 hourly 1 By: Detroit Dude ! http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283607 Detroit Dude ! Sat, 02 Dec 2006 02:18:45 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283607 deantj writes "Although I would recommend against buying GM stock, unless you like throwing money in the trash"....glad you're not my broker Dude, the GM stock in my 401k portfolio has been a strong contributor to a 21% rate of return for this calendar year. The GM stock alone has performed at a 58.5% rate of return for this calendar year. Shares I bought at $18-19 are now trading at $29 plus, I don't consider that "throwing money in the trash".....Kirk or no Kirk, the GM stock has performed this year. It's a long way from the glory days for sure, but it's by no means been a bad pick in 2006 !! So stay away Dude, it's just more for me !! :-) deantj writes “Although I would recommend against buying GM stock, unless you like throwing money in the trash”….glad you’re not my broker Dude, the GM stock in my 401k portfolio has been a strong contributor to a 21% rate of return for this calendar year. The GM stock alone has performed at a 58.5% rate of return for this calendar year. Shares I bought at $18-19 are now trading at $29 plus, I don’t consider that “throwing money in the trash”…..Kirk or no Kirk, the GM stock has performed this year. It’s a long way from the glory days for sure, but it’s by no means been a bad pick in 2006 !! So stay away Dude, it’s just more for me !! :-)

]]> By: avlight http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283597 avlight Sat, 02 Dec 2006 00:06:03 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283597 The report filed by Trancinda to the SEC stated that Kerkorian made approximately 130 Million on the deal. HE didn't lose money at all. He was upset that Gm did not go in with Rennault and Nissan. Good for GM, they are recovering without Kerkorian. The report filed by Trancinda to the SEC stated that Kerkorian made approximately 130 Million on the deal. HE didn’t lose money at all. He was upset that Gm did not go in with Rennault and Nissan.

Good for GM, they are recovering without Kerkorian.

]]> By: 90Z http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283544 90Z Fri, 01 Dec 2006 18:33:57 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283544 For another take on Kerkorian's motives, check out this link: http://forums.detnews.com/autosblog/index.cfm?blogid=138 For another take on Kerkorian’s motives, check out this link:

http://forums.detnews.com/autosblog/index.cfm?blogid=138

]]> By: Hal http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283522 Hal Fri, 01 Dec 2006 17:19:04 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283522 this will affect GM lanapat - like Ford they will burn through billions of dollars to fund their turnaround. a lower share price means fewer options to raise that cash. Selling off a chunk of GMAC is a far worse option for GM then having Renault/Nissan as an investor, unless of course you are one of the current management on millions of dollars a year that has run GM into the dirt. this will affect GM lanapat – like Ford they will burn through billions of dollars to fund their turnaround. a lower share price means fewer options to raise that cash. Selling off a chunk of GMAC is a far worse option for GM then having Renault/Nissan as an investor, unless of course you are one of the current management on millions of dollars a year that has run GM into the dirt.

]]> By: James http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283512 James Fri, 01 Dec 2006 16:12:16 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283512 November has a weird sense of humor, save that for the gay site though. November has a weird sense of humor, save that for the gay site though.

]]> By: buenos http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283503 buenos Fri, 01 Dec 2006 15:16:33 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283503 Wasn't there a similar situation with Kerkorian and Chrysler a few years back? Wasn’t there a similar situation with Kerkorian and Chrysler a few years back?

]]> By: WEKS http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283500 WEKS Fri, 01 Dec 2006 14:48:41 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283500 Oh just wait untill a Toyota/Lexus article pops up, then A4 and his friend C13PO (or whatever) will give a new meaning to immaturity, again. Oh just wait untill a Toyota/Lexus article pops up, then A4 and his friend C13PO (or whatever) will give a new meaning to immaturity, again.

]]> By: 90Z http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283499 90Z Fri, 01 Dec 2006 14:44:34 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283499 ^^You just noticed that?! It's been going on for quite a while now. As for Kirk selling off ALL (not 1/2...see today's Detroit News "Kirk Bails" article), he's a businessman who's made a LOT of money over the years. He didn't do that by clinging to lousy investments. He saw an opportunity to make money by investing in GM, and when it didn't turn out as promising as anticipated, he got out. It really has nothing to do with actually "helping" GM. It's business, and business is about making money. It's that simple. ^^You just noticed that?! It’s been going on for quite a while now.

As for Kirk selling off ALL (not 1/2…see today’s Detroit News “Kirk Bails” article), he’s a businessman who’s made a LOT of money over the years. He didn’t do that by clinging to lousy investments. He saw an opportunity to make money by investing in GM, and when it didn’t turn out as promising as anticipated, he got out. It really has nothing to do with actually “helping” GM. It’s business, and business is about making money. It’s that simple.

]]> By: Andre Neves http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283497 Andre Neves Fri, 01 Dec 2006 14:25:44 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283497 Umm...these comment here lately are getting more and more immature by the day. Some of you people need to grow up a bit. Umm…these comment here lately are getting more and more immature by the day. Some of you people need to grow up a bit.

]]> By: Kenny W http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283487 Kenny W Fri, 01 Dec 2006 11:34:22 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283487 Good riddance to bad rubbish. Good riddance to bad rubbish.

]]> By: lanapat7 http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283486 lanapat7 Fri, 01 Dec 2006 11:29:24 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283486 This will not affect GM in any way. This will not affect GM in any way.

]]> By: alphabravoseven http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283457 alphabravoseven Fri, 01 Dec 2006 04:47:29 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283457 i apologize for probably asking a silly question because this is the part of the business i'm not too savvy with, but what happens to that percentage that he used to own? does that just go to the company ownership itself or what? i apologize for probably asking a silly question because this is the part of the business i’m not too savvy with, but what happens to that percentage that he used to own? does that just go to the company ownership itself or what?

]]> By: Detroit Dude ! http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283456 Detroit Dude ! Fri, 01 Dec 2006 04:16:53 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283456 C'ya Kirk. You won't be missed. Stay out of Detroit. C’ya Kirk. You won’t be missed. Stay out of Detroit.

]]> By: F451 http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283450 F451 Fri, 01 Dec 2006 03:57:22 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283450 MarketWatch is saying he sold it all. GM just sold 51% stake of its GMAC financing unit for $14 billion USD. MarketWatch is saying he sold it all. GM just sold 51% stake of its GMAC financing unit for $14 billion USD.

]]> By: acura_el2000 http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283443 acura_el2000 Fri, 01 Dec 2006 02:18:35 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283443 as if this guy was a boxer... as if this guy was a boxer…

]]> By: chris2 http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283437 chris2 Fri, 01 Dec 2006 01:51:58 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283437 Huhh, Kekorian sold to someone. Someone else wanted it. That is why the price did not plummet. GM is not going away. Kekorian decided he was only going to double his money and it will take too long for the stock to double again. You may not believe it but GM is on it's way back to profitabily. Soon. Huhh, Kekorian sold to someone. Someone else wanted it. That is why the price did not plummet.

GM is not going away. Kekorian decided he was only going to double his money and it will take too long for the stock to double again.

You may not believe it but GM is on it’s way back to profitabily. Soon.

]]> By: Stuart http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283436 Stuart Fri, 01 Dec 2006 01:45:15 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283436 Being serious for one moment. You don't actually see any other multi biliionaire putting money into GM, do you? So he was trying to make a profit. Thats fair when you consider that he is taking a massive risk by putting money into a company which no one has any faith in. Hell look around even the US government aint even willing to help them so GM should actually be grateful. Any damage this does to the company will be all down to Rick Wagoner and friends as they are the reason he (Kirk) is turning away. P.S. MHW It may be stupid taking your ball and going home when you don't get your way but when so many of your billions are at stake it may be the right call for him. Plus it is a loss as the share prices show. Being serious for one moment. You don’t actually see any other multi biliionaire putting money into GM, do you? So he was trying to make a profit. Thats fair when you consider that he is taking a massive risk by putting money into a company which no one has any faith in. Hell look around even the US government aint even willing to help them so GM should actually be grateful. Any damage this does to the company will be all down to Rick Wagoner and friends as they are the reason he (Kirk) is turning away.

P.S. MHW It may be stupid taking your ball and going home when you don’t get your way but when so many of your billions are at stake it may be the right call for him. Plus it is a loss as the share prices show.

]]> By: MHW http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283435 MHW Fri, 01 Dec 2006 01:24:42 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283435 An alliance was good for Kerkorian, but not for GM. I think GM did the right thing, and since Kerkorkian didn't get his way he is simply taking his ball and going home. No loss really. An alliance was good for Kerkorian, but not for GM. I think GM did the right thing, and since Kerkorkian didn’t get his way he is simply taking his ball and going home. No loss really.

]]> By: Stuart http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283431 Stuart Fri, 01 Dec 2006 00:52:10 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283431 His money, he has earned it so he can do whatever he pleases with it. If I were him I would do the same considering the company is in the shitters and needs salvation. If I would invest as much as he did then i would expect someone to listen to me. GM snubbed him and he in return snubbed his shareholding in the company. Who in the chat room wouldn't do the same? His money, he has earned it so he can do whatever he pleases with it. If I were him I would do the same considering the company is in the ****ters and needs salvation. If I would invest as much as he did then i would expect someone to listen to me. GM snubbed him and he in return snubbed his shareholding in the company. Who in the chat room wouldn’t do the same?

]]> By: F451 http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283430 F451 Fri, 01 Dec 2006 00:46:09 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283430 LOL...like GM and Ford are saints!? Wait I about pissed my pants on that... . Like any investor Kerkorian can move about his funds as he desires. If GM tanks because Kerkorian leaves, then GM was going to tank no matter what. LOL…like GM and Ford are saints!? Wait I about pissed my pants on that…
.
Like any investor Kerkorian can move about his funds as he desires. If GM tanks because Kerkorian leaves, then GM was going to tank no matter what.

]]> By: autonutt http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283423 autonutt Fri, 01 Dec 2006 00:00:55 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283423 This is exactly why Ford needs to buy back all of its stock and start making decisions that aren't influenced by greedy speculators that could care less about the company so long as they get a decent return on their investment. This is exactly why Ford needs to buy back all of its stock and start making decisions that aren’t influenced by greedy speculators that could care less about the company so long as they get a decent return on their investment.

]]> By: max http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283420 max Thu, 30 Nov 2006 23:48:32 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283420 Don't let the door hit you in the ass on the way out. Don’t let the door hit you in the ass on the way out.

]]> By: F451 http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283416 F451 Thu, 30 Nov 2006 23:41:24 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283416 One savvy smart bastard... One savvy smart bastard…

]]> By: Lateralus http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283414 Lateralus Thu, 30 Nov 2006 23:38:23 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283414 What a prick Kerkorian is. He didn't get his way so now he's going to hurt the company in the best way he can. Please keel... What a prick Kerkorian is. He didn’t get his way so now he’s going to hurt the company in the best way he can.

Please keel…

]]> By: James http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283407 James Thu, 30 Nov 2006 23:19:35 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283407 He's just pissed the deal didn't go through and he didn't make even more billions. Hey old man give me your riches and we'll call it even, you won't need it much longer anyway. If GM has a genius like me running the show they wouldn't be in the shitter at all. He’s just pissed the deal didn’t go through and he didn’t make even more billions. Hey old man give me your riches and we’ll call it even, you won’t need it much longer anyway. If GM has a genius like me running the show they wouldn’t be in the ****ter at all.

]]> By: Asher http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283406 Asher Thu, 30 Nov 2006 23:12:44 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283406 That was 1 big block trade this afternoon - 28 Million shares in 1 trade - I was shocked the price propped right back up to where it began the day... That was 1 big block trade this afternoon – 28 Million shares in 1 trade – I was shocked the price propped right back up to where it began the day…

]]> By: S-60-driver http://www.leftlanenews.com/kerkorian-to-halve-gm-stake.html/comment-page-1#comment-283404 S-60-driver Thu, 30 Nov 2006 23:08:30 +0000 http://www.leftlanenews.com/2006/11/30/kerkorian-to-halve-gm-stake/#comment-283404 He needs to just DIE. He's effin' 90 years old!! Why does he care so much about money??? Go play golf or bang a 19 y.o. blondie! Freakin' loaded already in first place! God!! If i have like 15 million, I'm done. I'll just go out and have fun, taking trips, or whatever. Kirk is a BILLIONARE!!! Greedy old fart, that is. He needs to just DIE. He’s effin’ 90 years old!! Why does he care so much about money??? Go play golf or bang a 19 y.o. blondie! Freakin’ loaded already in first place! God!!

If i have like 15 million, I’m done. I’ll just go out and have fun, taking trips, or whatever. Kirk is a BILLIONARE!!! Greedy old fart, that is.

]]>