This morning I saw Bloomberg t.v. reporting that Kirkorhian and his Tracinda corp. are interested in buying 6 million shares. Guy, Charlie, Pacer etc. please tell me GM isn't going to sell this douche bag any more shares. He's still the only person thinking this GM-Nissan-Renault deal is a good thing.

 

I pray that they dont give it to him. All he wants is much control as possible so he can rape GM for his own gain.

 

I think you need regulatory approval to buy over 10% of GM. I believe Tracinda is already near that limit.

 

GM press release on this:

FOR RELEASE: 2006-09-28

CONTACTS

Statement Regarding Tracinda's filing of 13D (Reg. FD compliance TBD):



Tracinda Corporation advised us last night that it would be updating its SEC filings to reflect an interest in acquiring additional shares of GM stock. As Tracinda noted in its SEC filing this morning, an increase in its investment to 10% or more of GM’s common stock could be subject to the prior satisfaction of federal and state banking regulations because GM owns interests in various regulated financial institutions. We are reviewing the filing made by Tracinda and have no further comment at this time.

 

It's not up to GM whether they want to sell him the shares or not ... GM's not likely to issue more common shares just to sell to Kerkorian. Tracinda can buy the shares on the open market any time they please (assuming they get regulatory approval).

 

This cant be a good thing

 

I think you are correct. He is a real jerk, I pray tracinda goes bankrupt.