Kerkorian's stake in GM inches up

It’s a small increase, but an increase nonetheless. That is, of course, if you call any investment by Kirk Kerkorian small. The billionaire investor’s Tracinda Corp. indicated Wednesday that it will increase its share in General Motors from 9.5 percent to 9.9 percent. Tracinda disclosed its plans in an SEC filing yesterday that stated the company has no plans for acquisition— Kerkorian’s company maintains that it is a “passive” investor in GM— but he has also requested a seat on the board of directors, possibly signalling a more “active” role is in Kerkorian’s future.

By Erin Mays
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It’s a small increase, but an increase nonetheless. That is, of course, if you call any investment by Kirk
Kerkorian small. The billionaire investor’s Tracinda Corp. indicated Wednesday that it will increase its
share in General Motors from 9.5 percent to 9.9 percent. Tracinda disclosed its plans in an SEC filing yesterday
that stated the company has no plans for acquisition — Kerkorian’s company maintains that it is a “passive”
investor in GM — but he has also requested a seat on the board of directors, possibly signalling a more
“active” role is in Kerkorian’s future.