Ford Jellymoulds Posted April 28, 2008 Share Posted April 28, 2008 (edited) Tracinda said it intends to make a cash tender offer for up to 20 million shares of common stock of Ford Motor at a price of $8.50 per share. Tracinda says Ford's first-quarter results reinforced that the company is having success in its turnaround efforts, despite the difficult U.S. economy. Tracinda says it believes the Dearborn, Mich.-based company will continue to "show significant improvements." http://www.cnbc.com/id/24349568 Edited April 28, 2008 by Ford Jellymoulds Quote Link to comment Share on other sites More sharing options...
J-150 Posted April 28, 2008 Share Posted April 28, 2008 Tracinda said it intends to make a cash tender offer for up to 20 million shares of common stock of Ford Motor at a price of $8.50 per share. Tracinda says Ford's first-quarter results reinforced that the company is having success in its turnaround efforts, despite the difficult U.S. economy. Tracinda says it believes the Dearborn, Mich.-based company will continue to "show significant improvements." http://www.cnbc.com/id/24349568 so this old fart thinks he can boss around the Board like he did at Chrysler and GM? With the blessing and encouragement of The Family, Mr Mulally will tell the old fart to eff off and die Quote Link to comment Share on other sites More sharing options...
sranger Posted April 28, 2008 Share Posted April 28, 2008 so this old fart thinks he can boss around the Board like he did at Chrysler and GM? With the blessing and encouragement of The Family, Mr Mulally will tell the old fart to eff off and die Actually, I think that the guy just saw a good buy..... ( With a little help from bear stearns... ) Quote Link to comment Share on other sites More sharing options...
rmc523 Posted April 30, 2008 Share Posted April 30, 2008 so this old fart thinks he can boss around the Board like he did at Chrysler and GM? With the blessing and encouragement of The Family, Mr Mulally will tell the old fart to eff off and die Has anybody else noticed that both other companies he's worked with/owned stocks, etc. are now in trouble? Is he bad luck? Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 30, 2008 Share Posted April 30, 2008 (edited) This time it's different with Ford. 1. KK likes what he sees with Ford's agressive restructuring and right sizing 2. He also Likes Alan Mulally, that differs markedly from his view of Rick Wagoner 3. York has told KK that Ford shares are an easy double (to $16.00) Maybe the guys motives are just a quick buck and nothing more. Edited April 30, 2008 by jpd80 Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted April 30, 2008 Share Posted April 30, 2008 Maybe the guys motives are just a quick buck and nothing more. Quite possible. It's not like Tracinda has only ever been interested in takeovers. They aren't Cerberus, after all. Quote Link to comment Share on other sites More sharing options...
7Mary3 Posted April 30, 2008 Share Posted April 30, 2008 Tracinda's motive is to usually invest in a company, become a 'shareholder activist', bully the board around and increase share value and dividends. The thing is I hear that many members of the Ford family are unhappy over what their shares are worth (who wouldn't be). They may stand to gain if Kirk pulls this off. And at this point, who is to say that members of the family would sell if they can get a good price? Might be a lot more here than what meets the eye, but I am not thinking it is going to be good. Get the Ford family out of the picture, and Ford will get bought. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 30, 2008 Share Posted April 30, 2008 If he wants to really help Ford, let him buy Volvo for $5 billion and bully them around!!! Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted April 30, 2008 Share Posted April 30, 2008 If he wants to really help Ford, let him buy Volvo for $5 billion and bully them around!!! Noooo! I think I want Ford to keep Volvo after seeing a C30 up and close. That could very well be my next car in another year or so. Random question which may be better suited for the employee forum, but while it's up here -- Does X-Plan pricing apply to Volvo? Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 30, 2008 Share Posted April 30, 2008 Only joking Nick, Volvo sale at the moment would be a strategic and logistic nightmare. Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted May 1, 2008 Share Posted May 1, 2008 Tracinda's motive is to usually invest in a company, become a 'shareholder activist', bully the board around and increase share value and dividends. The thing is I hear that many members of the Ford family are unhappy over what their shares are worth (who wouldn't be). They may stand to gain if Kirk pulls this off. And at this point, who is to say that members of the family would sell if they can get a good price? Might be a lot more here than what meets the eye, but I am not thinking it is going to be good. Get the Ford family out of the picture, and Ford will get bought. The Ford family will not turn over control of Ford Motor to a 91 year old man with an investment vehicle named after his daughters. I rarely state things in an unequivocal fashion, but I will state that unequivocally. They will not sell their shares to him. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted May 1, 2008 Share Posted May 1, 2008 Green banana joke is a classic! I think it's a bit rich to suggest KK is about to buy enough shares to force a seat on the board, Why do that when Ford is doing basically everything he wants? Quote Link to comment Share on other sites More sharing options...
rmc523 Posted May 1, 2008 Share Posted May 1, 2008 This time it's different with Ford.1. KK likes what he sees with Ford's agressive restructuring and right sizing 2. He also Likes Alan Mulally, that differs markedly from his view of Rick Wagoner 3. York has told KK that Ford shares are an easy double (to $16.00) Maybe the guys motives are just a quick buck and nothing more. Well, lets hope those 3 points are true. Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted May 1, 2008 Share Posted May 1, 2008 Green banana joke is a classic!I think it's a bit rich to suggest KK is about to buy enough shares to force a seat on the board, Why do that when Ford is doing basically everything he wants? In the past Kerkorian has always done the 'buddybuddy' schtick when he first buys his stake. And then a few months later, when people stop paying attention to him, he sics Jerry York on the company. Originally, York was all gumdrops and marshmallows about Wagoner & GM. Then he got nasty. I expect no difference here. York & Kerkorian are masters at manipulating the the short attention span of the media for quick and easy profit. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted May 1, 2008 Share Posted May 1, 2008 So assuming Ford is agreeable in the first instance, what percentage would Kerkorian have to hold before a seat is justified, 10%, 20%? Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted May 1, 2008 Share Posted May 1, 2008 I don't think a seat is ever justified as a setaside, and I don't know how much he'd have to own before casting all his proxies for York would get him on the board. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted May 1, 2008 Share Posted May 1, 2008 (edited) Why would he take on the Fords knowing their control over the voting stock, doesn't that make his chances next to zero? If he can't get York in there, what's his plan, why is he doing this? Sorry about the barage of questions, I see why this guy is the centre of intrigue!!! Edited May 1, 2008 by jpd80 Quote Link to comment Share on other sites More sharing options...
97svtgoin05gt Posted May 1, 2008 Share Posted May 1, 2008 I don't believe for a second that the Fords will allow loss of control. It is a bit concerning though having him involved. Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted May 1, 2008 Share Posted May 1, 2008 Why would he take on the Fords knowing their control over the voting stock, doesn't that make his chances next to zero?If he can't get York in there, what's his plan, why is he doing this? Sorry about the barage of questions, I see why this guy is the centre of intrigue!!! Frankly, I have no idea what his intentions are. He could agitate for an end to family control, but he knows he can't get it. OTOH, he could be playing a much more transparent pump-n-dump than he did at Chrysler and GM. In this case, he may plan on riding the company through fall, whining when the Q3 numbers show a loss, throwing up a fuss, and then selling out for a tidy profit next year at about this time, and generally depressing Ford's stock price. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted May 1, 2008 Share Posted May 1, 2008 I would love to see Ford do a number on Kerkorian, not sure how but Mulally is very shrewd!!! Quote Link to comment Share on other sites More sharing options...
J-150 Posted May 1, 2008 Share Posted May 1, 2008 I would love to see Ford do a number on Kerkorian, not sure how but Mulally is very shrewd!!! what was it Mulally said to execs in his first few months on the job? "that doesn't work for me" or something like that? I think he is very well equipped to say eff you Quote Link to comment Share on other sites More sharing options...
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