High School Drop Pilot buys General Motors

[pilotyip]

A high school drop out W.W.II Army pilot, who built an airline and sold it for $100M back in 1979, has tendered an offer to buy 8% of Generals Motors stock. Who says you need a college degree to make it in this business? He owned Transamerican Airlines when I worked there, and he made his money then by selling the airlines airplanes to make money. Things could get very interesting in Detroit.

 

[Yank McCobb]

8% stock hardly qualifies as "buying" GM. Maybe a little MORE melodrama is in order?

 

[Gulfstream 200]

A high school drop out W.W.II Army pilot, who built an airline and sold it for $100M back in 1979, has tendered an offer to buy 8% of Generals Motors stock. Who says you need a college degree to make it in this business? He owned Transamerican Airlines when I worked there, and he made his money then by selling the airlines airplanes to make money. Things could get very interesting in Detroit.

yeah, screw college!!!

I think the key here is....."WW II" and "1979"..

Yip, wake up old man, its 2003.

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[VampyreGTX]

8% stock hardly qualifies as "buying" GM. Maybe a little MORE melodrama is in order?

I believe he already owns 22%, so he's raising his stake an additional 8%....

 

[Yank McCobb]

Then this is even LESS noteworthy.

 

[U-I pilot]

The big deal about 8% is that this guy already owns 3%. Now he is the 3rd largest share holder. He did something similar with chrysler a while back which eventually led to the merger with Daimler-Benz.
Check it out: http://www.usatoday.com/money/autos/2005-05-04-gm-kerkorian_x.htm

 

[Gulfstream 200]

I believe he already owns 22%, so he's raising his stake an additional 8%....

Kerk owns less than 3.5% right now and his offer a few days ago of 33% premium on a bunch that ups his stake to 4.9% of the company stock...

22% of GM???- yeah a board would approve that..stop smoking crack fella

.

However, no doubt this offer could help GM. That place needs to show the world SOMEONE has interest in a miserably failing company...

Those employees think benefits are getting slashed now....wait until the kerk lead restructure!!!

 

[coolyokeluke]

Kirk Kerkorkian is an example of relentless greed. He cares nothing for a company's performance, only to bouy up the stock price. He made such a nuicance of himself at Columbia pictures they bought the stock back from him at a higher price just to get rid of his meddline. Chrysler had some money while times were good that they wanted to spend in automobile development and to save for when that industry takes its inevitable downturns and he insisted they distribute the money to stockholders. He mounted a takeover attempt with Lee Iacocca, a guy whose ideas of vehicle improvement are more chrome and vinyl roofing on cars. Apparently being a multi-billionaire isn't enough. GM may not be healthy but nothing good will come of this.

 

[VampyreGTX]

22% of GM???- yeah a board would approve that..stop smoking crack fella

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Yeah yeah... it's 22 millions shares of stock. I was just going from memory. He's increasing his stake by another 28 million shares (@ $868 million more) so he will be the single largest shareholder of GM.....

 

[goofyleftwich]

you really should listen to wetdream 200 as he is a know it all

 

[cynic]

Yeah, because the only reason one would go to college is to make money. It has NOTHING to do with intangible values like personal growth or education.

We’d all be better people if we’d just see that the only learnin worth learnin is that work is hard and we should work hard and college is easy and don’t build character of any sorts.

Now lets go burn a library! Who’s with me!

 

[Swass]

you really should listen to wetdream 200 as he is a know it all

LOL

 

[Brett Hull]

And once again PilotYip, I, with no college degree (but I'll have it by early August) and glowing recommendations from my previous employers, can't seem to get a decent job flying anything but an entry level Learjet.

And by decent, I mean somewhat of a schedule flying nice equipment mainly during the daytime, not in Alabama, and not being tied to a pager and having to run to the airport at 1 in the morning to fly a load of headlights to MMTO.

There's a whole lot more people with the degree who have made it than there are who have made it without. I'm definitely not getting my degree because I enjoy working on it; I'm getting it because not having it sure as he!! isn't helping my cause.

 

[KigAir]

22% of GM???- yeah a board would approve that..stop smoking crack fella

If he purchases the stock on the open market, I don't see him needing the board's approval.

 

[Gulfstream 200]

If he purchases the stock on the open market, I don't see him needing the board's approval.

ya gonna go buy 22% of GMs stock on the open market?

with what? monopoly money?