Kirk Kerkorian news stories on Newser

Giant Vegas Project May File for Bankruptcy

Jason Farago — Fri, 27 Mar 2009 07:33:24 CDT

City Center, the sprawling $8.6 billion Las Vegas development and the largest private construction project in history, will likely fail to make a $220 million debt payment today and may file for bankruptcy. The project is a collaboration between Kirk Kerkorian's MGM Mirage and Dubai World, a conglomerate owed...

Smart Money Trickles Back Into Energy

Clay Dillow — Tue, 06 Jan 2009 11:51:54 CST

The energy sector is recharging, the Wall Street Journal reports, at least if a pair of deals by billionaire oil and gas investor George Kaiser is any indication. Kaiser, who built his fortune buying energy assets during downturns, is jumping back into the market, penning a $412 million natural gas...

Ford to Offer Self-Park Cars; Kerkorian Sells Stake

Clay Dillow — Tue, 30 Dec 2008 10:19:00 CST

Ford plans to offer two models with a self-parking function at the Detroit auto show next month, the Wall Street Journal reports, in the continuing effort to woo buyers with new technology. But the company's image among investors remains tarnished, as billionaire Kirk Kerkorian confirmed yesterday that he sold his...

MGM Mirage Chief Quits Amid Fake MBA Flap

Rob Quinn — Fri, 14 Nov 2008 02:04:44 CST

The CEO of MGM Mirage has announced his resignation, but denied it had anything to do with lying about having an MBA, reports the Wall Street Journal . J. Terence Lanni, one of the most powerful figures in the gambling world, has long claimed to have an MBA from the University...

Kerkorian Pulls Out of Ford

Clay Dillow — Tue, 21 Oct 2008 08:46:00 CDT

Billionaire investor Kirk Kerkorian, an old hand at investing in Detroit, began his Ford escape today, selling 7.3 million shares of common stock in the company at $2.43 per share, the Wall Street Journal reports. As recently as February Kerkorian was building his stake in the embattled automaker,...

Kerkorian Bets Big on Ford Turnaround

Nick McMaster — Mon, 28 Apr 2008 16:22:12 CDT

Investor Kirk Kekorian is gobbling up shares of Ford in move seen as a vote of confidence for the automaker’s turnaround efforts, the Wall Street Journal reports. Kerkorian’s Tracinda has bought about 100 million shares and holds a 4.7% stake in the firm. Tracinda also offered to buy 20...

It's Forbes 400 Time Again

Katherine Thompson — Fri, 21 Sep 2007 07:15:08 CDT

In the 25th year of Forbes magazine's rankings of the 400 riches Americans, the net worth at the poor end of the list is $1.3 billion, up from a flat $1 billion a year ago. Microsoft founder Bill Gates still tops the list with $59 billion, closely followed by...

Dubai Betting $5B on Vegas Casino Giant

Heather McPherson — Wed, 22 Aug 2007 14:01:17 CDT

Dubai World—a company owned by the government of the oil-rich Persian Gulf state—plans to invest up to $5.1 billion in MGM Mirage, the world's second-largest casino company, Bloomberg reports. The move would give Dubai a presence in booming Las Vegas and free up assets for MGM Mirage...

Kerkorkian Hedges Bets on MGM

J. Kelman — Wed, 20 Jun 2007 09:13:13 CDT

Mega-investor Kirk Kerkorian has withdrawn his intended bid for two of MGM Mirage's showcase properties. Kerkorian, who owns a 56% stake in the company, pulled his preannounced offer on news of a multi-billion dollar development deal between MGM and South African casino giant Kerzner International to develop a new property...