Auto: GM stakeholder Kerkorian to cut investment

Manufacturing News, Source : The Manufacturer US
Published : 27 Nov 2006 14:39

More tough news for automaker GM, as top investor Kirk Kerkorial plans to sell one quarter of his stock, about 14 million shares.

Kerkorian, through his investment vehicle Tracinda Corp. gives no reason, and hedges its bets saying it will make future buy/sell decisions based on performance. The Wall Street Journal speculates

this may be a move to push through a slate of directors to GM's board.

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