Word: kerkorian
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Dates: during 1990-1999
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...boom. The trick is to sell before the bust. "The time to buy auto stocks is when times are bad but not getting worse," notes Merrill Lynch analyst John Casesa. "The time to sell is when times are good but not getting better." Billionaire Kirk Kerkorian showed us the way. He was buying Chrysler at $10 in 1991, when the company was on its back. His $1.5 billion investment is worth more than $5 billion--and he's now a seller...
...impresario who engineered one of the most audacious corporate comebacks in capitalist history, left Detroit with a historic legacy. But no sooner had the Chrysler chairman stepped down in 1992 than the wheels began to fall off. His third marriage disintegrated. His 1995 partnering with Las Vegas financier Kirk Kerkorian in an abortive bid to take over Chrysler ended in a fiasco of lawsuits, not to mention accusations of treachery and avarice by his former colleagues...
...long derided for being too penurious, has put $2 billion into his two charitable foundations. Earlier this month he donated $100 million in cash toward vaccinating children in the developing world. It was just one of numerous conspicuous gifts made in 1998. Among them: Armenian-American billionaire financier Kirk Kerkorian's $200 million in aid to earthquake-ravaged Armenia, and businessmen Ted Forstmann and John Walton's $100 million fund to subsidize private-school scholarships for inner-city students...
...KIRK KERKORIAN Billionaire raider sees his post-merger Chrysler stake treble to $5 billion. Gee, them that...
...Whatever the impact on American pride, the deal is a bonanza for shareholders -- especially Kirk Kerkorian, the reclusive 81-year-old who owns 13.8 percent of Chrysler. Back in 1990, he was derided for his interest in the once-struggling Michigan firm's stock. Now, if shareholders and governments on both sides of the Atlantic agree to the merger, he will reap a satisfying $5 billion payoff -- more than triple his original investment. Who says you shouldn't throw money at Motown...