Kerkorian to invest in Ford
| June 26th, 2008 | ||
| Reclusive investor Kirk Kerkorian has scooped up a 6.5% stake in Ford Motor. Although the company has been cutting costs, they face the very real possibility of having to restructure yet again because of poor sales. This could leave them tight for cash, and Mr. Kerkorian could provide a little extra cushion for the auto giant. Ford also has a $12 billion credit-line however they are reluctant to use it because it could send the wrong message to Wall Street. Another possibility for financing is a favorable equity position from long time banker to the Ford family Goldman Sachs. | ||
For Detailed Investor Profiles on these Investors, click below: |
Tracinda Corporation |
Related People: Kirk Kerkorian
Related Entities: MGM Mirage (NYSE: MGM);
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