Word: kerkorian
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...rally in GM shares as well as the shares if its dependent suppliers. But we increasingly view such a rally as potentially tenuous," said J.P. Morgan's Himanshu Pate in a recent note to investors still hanging on to shares trading at historic lows. That no longer includes Kirk Kerkorian. The Los Angeles mogul, who has made a fortune buying and selling auto stocks over the past two decades, dumped his big block of Ford shares at a substantial loss, saying there was more opportunity in gambling...
...their indie upbringing taught them to be tight with a dollar and careful about cash flow. A key strategy calls for building a formidable library that can spin off immediate revenues while providing fodder for various platforms. Former MGM owner Kirk Kerkorian--who flipped his studio three times--advised the Weinsteins to scoop up all the solid content they could get their hands on. The fickle nature of the movie business makes each film a gamble. Hence a large library reduces overall risk...
...also serious about finding a North American partner for his two-headed animal, despite a very public and unsuccessful mating dance with General Motors this summer and fall. Kirk Kerkorian, a large GM shareholder, wanted the flailing auto giant to join the Nissan-Renault family, hoping Le Cost Killer could wield le knife at GM and help boost the stock. Having witnessed the leaps that two former mediocrities like Nissan and Renault could make by partnering, Ghosn found the idea of pooling forces with GM appealing. And he figured GM could help his carmakers save billions of dollars on everything...
...else, and yet no two businessmen could be less alike. Wynn is Vegas royalty, the artist who rejuvenated the Strip by going upmarket in tone with the Bellagio, which showcased Van Goghs and Cezannes and Degas's dancers instead of topless showgirls. He lost the place to raider Kirk Kerkorian, who took over Wynn's company, Mirage Resorts, and booted Wynn, who scored a $6.4 billion payout but still had a score to settle. Last year Wynn returned with the new Wynn Las Vegas: more hushed, more exclusive...
...buyouts certainly add a new sense of urgency to a turnaround effort that until now some critics, such as GM's newest board member, Jerry York, investor Kirk Kerkorian's man in Detroit, had considered stuck in neutral. But things are not looking up at GM these days. The automaker recently disclosed it had lost $10.6 billion in 2005, not $8.6 billion as the company reported in January. March sales estimates prepared by outside analysts suggest that GM's market share has dipped close to 21% in March, a far cry from the 45% GM commanded in its heyday...