High School Drop Pilot buys General Motors

[VampyreGTX]

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

with what? monopoly money?

Well, GM has 564 million shares outstanding, so a 22% stake would be approximately 124 million shares, at the current stock price, would be $3.8 billion which is not an unheard of amount for an investment group/company to do. It's rare for amounts that large, but for investment companies like Kerkorian's Tracinda, it'd be business as usual.

 

[KigAir]

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

with what? monopoly money?

Accoording to this: Linky

Kerkorian, an 87-year-old billionaire, has an estimated net worth of $8.9 billion according to the latest list compiled by Forbes.

I would think he wouldn't need monopoly money.

 

[Resume Writer]

Yip,


I have read many threads where you, almost vehemently, suggest people not get a college degree. Having a college degree will never hurt you. Not having one, in many cases, will hurt you. I am not talking specifically to aviation.

I have many clients that have reached their "level of advancement" because they do not have a college degree. This includes middle management all the way up to executives. In fact, the executives that have advanced through their career, only to find out their company has been purchased by another, are finding themselves in a world of hurt because they do not have a degree. You want to know what every one of them says to me? "I always meant to get my degree, I just didn't need it before."

Let me provide you one more example. If a person wants a coveted pharmaceutical sales position, they will never even get a sniff without a college degree. So, to discourage people from getting a college degree, in my opinion, is not wise.

Do I believe that a college degree is the "key" to life and the answer to everything? Nope. However, without one, people may find that their options are limited.

Kathy

 

[sqwkvfr]

If a person wants a coveted pharmaceutical sales position

Why is it that every time I talk to a female pharmaceutical sales representative, I get the feeling that I'm talking to a former "Miss (insert state here)?"

 

[semperfido]

Yip,


I have read many threads where you, almost vehemently, suggest people not get a college degree. Having a college degree will never hurt you. Not having one, in many cases, will hurt you. I am not talking specifically to aviation.

I have many clients that have reached their "level of advancement" because they do not have a college degree. This includes middle management all the way up to executives. In fact, the executives that have advanced through their career, only to find out their company has been purchased by another, are finding themselves in a world of hurt because they do not have a degree. You want to know what every one of them says to me? "I always meant to get my degree, I just didn't need it before."

Let me provide you one more example. If a person wants a coveted pharmaceutical sales position, they will never even get a sniff without a college degree. So, to discourage people from getting a college degree, in my opinion, is not wise.

Do I believe that a college degree is the "key" to life and the answer to everything? Nope. However, without one, people may find that their options are limited.

Kathy

used to be many airline pilots rose through the ranks to the top of their profession with a high school education. a pilot used to be a semi blue collar job that paid very very well. now you need at least a 4 yr degree and you can't say paid very very well anymore.

 

[Gulfstream 200]

Well, GM has 564 million shares outstanding, so a 22% stake would be approximately 124 million shares, at the current stock price, would be $3.8 billion which is not an unheard of amount for an investment group/company to do. It's rare for amounts that large, but for investment companies like Kerkorian's Tracinda, it'd be business as usual.

alright....

Your Math 101 (multiplication) is spot on I suppose, but Market Analysis 101..nonexistant!

Where are you going to find 22% of GM for sale?...SO you find some for sale and line up funding...the words out.

What happens when people start buying large amounts of a depressed stock like GM?....YUP!, the price goes up (and the rich get richer, but thats a given) Your investors were in for a certain price, it gets reached. Now...lets sell! I bet your funding would be 99% gone by the time you pocketed 1% of the shares..

This is the only reason GE would want kerk taking what is effect a HUGE chunk of GM (4.5%)..they are simply hoping he sets a spark to get that stock moving..shareholers are very pi$$ed. Who are the shareholders? not Dick and Tom who used to install headlights...its the big houses on Wall Street who fund Pensions, etc My guess (without a quick google) is that GM stock is at least 80% owned by institutions...Last week they just listed GM's credit as JUNK. All thier debt (lots of that) will now cost them more. GMs/Fords retirement (pensions and medical) are in a 20X worst state than Social Security. They (GM) are happy to set up kerk with shares at his offering price and hope the trend catches on. They NEED it to. The debt needs better standing - lower interest, longer terms...or the spiral will continue - and the whole way down the average worker (thats you and me) will see our pay sliced and our benefits slashed. Sounds like the airlines? sadly it does. Is this bad? in the long run no...adapt or die is the new trend. There isnt much hope left in "riding out the cycle" dont beleive it, check out the airlines..

anyhow...nobody can honestly say what 22% of GM stock would ever be worth.

You cant multiple 22% of the outstanding shares and write a check for 3.8 billion dollars! -- dont you think 100 different billionaires would have done this already??



Delta Airlines (DAL)...today has a market cap of 461 million dollars. Pull out the checkbook and buy the whole joint - all 121 million shares- for 461 million dollars. nope.


Way off topic at this point - as usual - but all in all lets just hope its good for GM in the long run..because its not going to be in the short.

 

[414Flyer]

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.

Iococca did help bring about the first generation Mustang though.

 

[sqwkvfr]

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.

I don't recall the "K"-car or Chrysler minivans being famous for their chrome and vinyl roofing.

 

[pilotyip]

Lee's claim to fame was marketing the same chassis under a different name to a different buyer. The Mustang was a Falcon drive train and suspension with new sheet metal. Saves a lot of money in development. He did the same thing a CHY in their dark days. So in a sense he was chrome and trim, but in a nice sense