Captain Kirk Kerkorian beamed up 12.8 million of his GM shares, cutting his stake to 5.8% of the company's stock. The market went down on the news, with GM stock trading at an all-time low in the $19/share range. In separate news, it appears that Toyota is on the verge of nudging past GM for the title of biggest car company (in unit sales). Toyota could buy GM lock stock & barrel with just 18 months of its profits, but that would mean buying GM's problems, so nothing like that is going to happen any time soon.
http://www.detnews.com/apps/pbcs.dll/article?AID=/20051221/AUTO01/512210405
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.