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December 2, 2008 4:53:02 AM CST


Kirk Kerkorian

Kirk Kerkorian news stories

8 Stories

MGM Mirage Chief Quits
Amid Fake MBA Flap

Lanni denies sudden resignation related to degree fib

(Newser) - The CEO of MGM Mirage has announced his resignation, but denied it had anything to do with lying about having an MBA, reports the Wall Street Journal . J. Terence Lanni, one of the most powerful figures in the gambling world, has long claimed to have an MBA from the University of Southern California. But university records don't back him up. More »

More about:  Las Vegas resignation gambling casino CEO Kirk Kerkorian University of Southern California MGM Mirage MBA

Kerkorian Pulls Out of Ford

Biggest non-family stockowner begins dumping stake, looks to energy instead

(Newser) - Billionaire investor Kirk Kerkorian, an old hand at investing in Detroit, began his Ford escape today, selling 7.3 million shares of common stock in the company at $2.43 per share, the Wall Street Journal reports. As recently as February Kerkorian was building his stake in the embattled automaker, offering $8.50 a share in an effort to add 20 million to the 100 million he already held. More »

More about:  auto industry Detroit Ford stocks investing manufacturing Kirk Kerkorian

Kerkorian Bets Big on Ford Turnaround

Investor buys 100M shares, taking 4.7% stake after strong Q1

(Newser) - Investor Kirk Kekorian is gobbling up shares of Ford in move seen as a vote of confidence for the automaker’s turnaround efforts, the Wall Street Journal reports. Kerkorian’s Tracinda has bought about 100 million shares and holds a 4.7% stake in the firm. Tracinda also offered to buy 20 million more for $8.50 apiece, 13% more than their market value Friday. More »

More about:  General Motors Ford stocks US automakers Kirk Kerkorian investor downsizing

It's Forbes 400 Time Again

You now need $1.3B
to make list of
richest Americans

(Newser) - In the 25th year of Forbes magazine's rankings of the 400 riches Americans, the net worth at the poor end of the list is $1.3 billion, up from a flat $1 billion a year ago. Microsoft founder Bill Gates still tops the list with $59 billion, closely followed by Warren Buffett ($52 million). Forty-five of the members appear on the list for the first time. More »

More about:  list Bill Gates Warren Buffett Kirk Kerkorian Forbes 400

Dubai Betting
$5B on Vegas Casino Giant

Deal with MGM Mirage gives Persian Gulf state stake in gaming Mecca

(Newser) - Dubai World—a company owned by the government of the oil-rich Persian Gulf state—plans to invest up to $5.1 billion in MGM Mirage, the world's second-largest casino company, Bloomberg reports. The move would give Dubai a presence in booming Las Vegas and free up assets for MGM Mirage to diversify its holdings. More »

More about:  Las Vegas gambling casino Dubai Persian Gulf Kirk Kerkorian MGM Mirage

Kerkorkian Hedges Bets on MGM

Billionaire investor withdraws offer for casino properties

(Newser) - Mega-investor Kirk Kerkorian has withdrawn his intended bid for two of MGM Mirage's showcase properties. Kerkorian, who owns a 56% stake in the company, pulled his preannounced offer on news of a multi-billion dollar development deal between MGM and South African casino giant Kerzner International to develop a new property on the Strip.  More »

More about:  casino Kirk Kerkorian MGM Mirage Bellagio

Kerkorian Bets on Bellagio

Billionaire who controls MGM Mirage makes bid for its two hottest assetsi

(Newser) - Activist investor Kirk Kerkorian, who holds a controlling interest in MGM Mirage, is making a play to buy two of the casino company's crown jewels. Kerkorian's company, Tracinda Corp., is in talks to acquire MGM's Bellagio Casino and the $7.4 billion CityCenter development, currently under construction. Kerkorian currently owns 56% of MGM Mirage. More »

More about:  private equity investors privatization Kirk Kerkorian MGM Mirage Bellagio

Kerkorian Offers $4.5 Billion
For Chrysler

Dumped his shares last time around; now is ready with cash

(Newser) - Beverly Hills billionaire Kirk Kerkorian has offered to buy the Chrysler group for $4.5 billion. Kerkorian's investment company, Tracinda Corp., can pay cash for the ailing automotive giant, and is pitching an extra $100 mil for an exclusive two-month period to run due diligence. Tracinda told parent DaimlerChrysler it can work with both management and the UAW, which would have an equity stake. More »

More about:  auto industry business Chrysler car United Auto Workers shares Kirk Kerkorian Daimler

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