Kerkorian raises his stake in Ford

Analysts curious about his next move BY SARAH A. WEBSTER • FREE PRESS BUSINESS WRITER • June 20, 2008 Two days after meeting with Ford Motor Co.'s top two leaders, billionaire Kirk Kerkorian on Thursday revealed that his investment firm, Tracinda Corp., had boosted its stake in Ford Motor Co. to 6.49% from 5.5% -- a move that has industry watchers intrigued about what plans the activist investor might have in store for the Dearborn automaker. Kerkorian, who is well-known in Detroit for his failed takeover attempt of Chrysler Corp. in 1995 and his frustrated efforts to push General Motors Corp. in new strategic directions in 2005, now owns 140.8 million shares of Ford, his firm said in a filing with the U.S. Securities and Exchange Commission. On June 13, the firm purchased 20 million shares through a cash tender offer that... [read full story]