Kirk Kerkorian

Kirk Kerkorian

Started by S Goldstein; Last updated by D Lim

Stories

6 Stories

March 2009
- Giant Vegas Project May File for Bankruptcy
  
  Wall Street Journal | Mar 27, 09 7:33 AM CDT
  
  (Newser) - City Center, the sprawling $8.6 billion Las Vegas development and the largest private construction project in history, will likely fail to make a $220 million debt payment today and may file for bankruptcy. The project is a collaboration between Kirk Kerkorian's MGM Mirage and Dubai World, a conglomerate owed by the emirate's government. The project's collapse would eliminate thousands of jobs and could have major consequences across Las Vegas, reports the Wall Street Journal . More »
April 2008
- Kerkorian Bets Big on Ford Turnaround
  
  Wall Street Journal | Apr 28, 08 4:22 PM CDT
  
  (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 »
June 2007
- Kerkorkian Hedges Bets on MGM
  
  CNN | Jun 20, 07 9:13 AM CDT
  
  (Newser) - Mega-investor Kirk Kerkorian has withdrawn his intended bid for two of MGM Mirage's showcase properties.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 »
May 2007
- Kerkorian Bets on Bellagio
  
  SmartMoney | May 22, 07 2:54 PM CDT
  
  (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 »
- Cerberus Close to Consuming Chrysler
  
  Reuters | May 13, 07 10:10 PM CDT
  
  (Newser) - Private equity firm Cerberus Capital Management is said to have cut a deal to buy Chrysler from DaimlerChrysler. Cerberus has lots of experience in negotiating for assets in the auto industry, having led the buyout of auto parts maker Delphi, which has not yet closed and may yet fall apart. More »
April 2007
- Kerkorian Offers $4.5 Billion For Chrysler
  
  Detroit Free Press | Apr 5, 07 4:18 PM CDT
  
  (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 »

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Background

Kirk Comes in at #31 on the Forbes Rich List
Forbes

Eighth-grade dropout and former DaimlerChrysler shareholder unloading his pile of General Motors stock; sold off 14 million shares in November, today owns 5% stake worth $870 million. Born in Fresno to Armenian immigrants, flew planes across Atlantic during World War II. First fortune: selling Trans...

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Stories

Giant Vegas Project May File for Bankruptcy

Kerkorian Bets Big on Ford Turnaround

Kerkorkian Hedges Bets on MGM

Kerkorian Bets on Bellagio

Cerberus Close to Consuming Chrysler

Kerkorian Offers $4.5 Billion For Chrysler

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