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Start with a large one, of course. That seems to be billionaire Kirk Kerkorian’s strategy with his investment in
General Motors. In a few short months, the value of Kerkorian’s 9.9 percent stake in GM has shrunk by a cool $436
million.
Bloomberg reports that the 20 biggest GM investors have collectively lost $3.8 billion this year.
No wonder rumors persist that Kerkorian, ranked 19 among the 400 richest Americans by Forbes magazine, will take a
more active role in GM’s future plans. Wouldn’t you?
A likely step is securing a board seat for Kerkorian advisor Jerry York, former CFO of Chrysler.