Linda Kerkorian Kemper (wife of Ross Hilton Kemper) is daughter of Kirk Kerkorian (Armenian-American president/CEO of Tracinda Corporation, his private holding company based in Beverly Hills, California)
Sorry for my poor english translation.
In response to the announcement of the Ford papers posted on Wall Street a powerful pre-trade price jump to $ 8.14. Although Ford had been run in the same quarter a loss of 282 million, the company posted in 2008 surprisingly positive numbers. On Thursday the company announced a net profit of 100 million dollars - equivalent to $ 0.05 per share.
Although the consolidations at Ford show results remains questionable whether this can also apply for the rest of the industry, my industry insider. "The restructuring of the U.S. car makers is not new, but the consolidation phase and not yet completed. In mid 2001 the car sales in the U.S. was at a cyclical peak," said German bank Research automotive market analyst Eric Heymann in conversation with pressrelease. According to experts, the high sales figures were, however, through discount promotions after 11 September artificially drawn in the length. "Therefore we are currently observing the discounts and late effects, also favoring the high petrol prices, competition from Japan and Germany," Heymann continued. So the U.S. automakers is a lack of export valve, which has implications in times of a weak domestic market, especially negative, then the expert.
The current increase does indeed offer a premium of 13.3 percent over the closing price of 7.50 dollars from Friday, but at the same time clouded negative studies on the forecasts of the U.S. automotive market is the image. As a result, Ford's shares suffered reductions of 10.71 percent, which meant that both Bear Stearns and JP Morgan, the paper fell massively classified. Analysts said there is evidence that the strategy for the rehabilitation of the once lightly beat believed automobile manufacturer under the leadership of former Boeing manager Alan Mulally now could lead to the goal faster than previously thought. Kerkorian may have thus chosen the date for sometime in the company more than right, which industry experts agree.
Tracinda endorsed not only Mulallys restructuring program, but also expects that Ford "significant improvements in the future results" will generate. Thus, idealistic impressions of restructuring the U.S. auto industry. The largest U.S. manufacturer Chrysler wants special Internet offers out of the red casualty figures. As the Wall Street Journal yesterday, Monday, reported that the group studied in the planned sale of two-axis mills to buyers, this will save $ 400 million and cut the business model radically. In addition, we wanted to continue to focus on developing fuel-saving technologies, it says. Industry experts assess the move as profitable as this will continue to be a competitive driver for all vehicle manufacturers.
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High gambled and lost
I have no money and no training to learn, and I want to fly. Can you help me "Or so she begins the first career of Kirk Kerkorian in 1940, shortly after the outbreak of World War II, the 23-year-old laborer comes to an airport in the Air Force -?. And discovered his passion for flying. Until then, he has broken through as an amateur boxer. Six months later, he is a pilot and pays off when the army built a reputation as a reckless daredevil.
Ford Ends with getting the last adventure for now Kerkorian in the auto industry. 13 years earlier had started it all.
But his love of risk, then it would have cost almost as a pilot's life, can not rest Kerkorian. Terminated Daimler2008 the hapless marriage with Chrysler, the now 90-year-old suspects his third opportunity: $ 4.5 billion, he is said to have offered to buy Chrysler - Daimler yet sold his shares to the financial investor Cerberus.
Kirk Kerkorian sends GM's course in the basement
As many as three bad news for General Motors pushed the share price of even the world's largest automaker to its lowest level since 1982.
First, reduced the American billionaire speculator Kirk Kerkorian, 87, his share of GM from 9.9 to 7.8 percent. He has thereby accepted a multimillion dollar loss - in order to supposedly reduce their tax burden.
Second, Toyota confirmed its intention no later than next year in GM the top spot on the ranking list of all car manufacturers to displace; that the Japanese can do this, hardly anyone doubted currently.
And third, a call back: General Motors must collect 426 000 vans because of defective seat belts in the workshops.
All this impressed the New York Stock Exchange on Tuesday evening very much: The share price of General Motors fell by five percent to only $ 19.85. This is just half of its value from a year ago.
In this slide of the stock Kirk Kerkorian may now while the tax authorities to report a nice loss, which reduces his taxable income. In June, the speculator had paid $ 31 per GM share. Overall, he bought at that price 18.9 million shares worth $ 585.9 million.
For 460 million dollars, he bought in September to 13.1 million shares. He has sold, according to his investment company Tracinda on 15 and 19 December 12 million shares at a price of $ 22.02 and $ 20.21. He redeemed $ 251.6 million - and makes $ 334.3 million loss.
But Kirk Kerkorian is not the man who invests to produce losses, even if they are tax efficient. The owner of the MGM movie studios in Hollywood had bought GM shares to increase its influence in the world's largest automaker.
Similar to Porsche, Volkswagen currently Kerkorian sought a presence on the supervisory board, where he wanted to give, unlike Porsche with a seat at VW satisfied. But even that was too much already. A week ago, even saw one and made it known that Kerkorian, Tracinda's negotiations over a seat on the board for the largest single shareholder had failed.
Questionable given the current development, if Kerkorian is now strong enough to force GM CEO Rick Wagoner to harder than the planned restructuring measures in North America, where GM close nine plants and reduce until the end of 2008 a total of 30,000 jobs will. By the end of next year to seven billion dollars will be saved.
Perhaps the investor but also sees his chance in a merger of the ailing U.S. manufacturer with its Japanese Erzkonkurrenten Toyota. In this case, the GM stock would rise again and Kerkorian could compensate for his loss more than current.
Toyota in America now holds a market share of 15.1 percent - a record high. The Japanese want to make next year 9.2 million vehicles and expand its production capacity by ten percent.
General Motors may produce because of the price war on the American market in 2006, almost 9.12 million cars again. Because GM is known in America for its large hybrid SUVs and sedans from ("Sports Utility Vehicle") and the pick-up trucks - neither of which are among the currently popular fuel-saving models.
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