Kerkorian Sells Ford Stock at Big Loss
Tracinda Corp owner Kerkorian reduced his Ford stake in a sharp loss selling 7.3 million Ford shares on October 20, 2008 for about 2.43 each. He still holds 133.5 million shares, over 6 percent, and may sell all remaining holdings. The move follows Ford’s stock drop and executive changes, including CFO Don Leclair’s retirement.
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Kerkorian
Detroit
Kirk Kerkorian
Tracinda Corp
Ford Motor Co
Dearborn, Mich
Tracinda
Ford Common
U.S. Securities and Exchange Commission
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Ford
Alan Mulally
Henry Ford
Don Leclair
Cribs recalled after two infant deaths prompt safety check
The U S recall of about 1.6 million Delta Enterprise cribs follows two 8 month old suffocations from drop side detaching. The recall spans Taiwan Indonesia China models sold via Wal Mart Kmart and Target between 1995 and 2007 with replacement pegs or peg kits offered.
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Delta Enterprise
Nancy Nord
Consumer Product Safety Commission
Bryan
Texas
Tallahassee
Fla
Taiwan
Indonesia
Wal-Mart
Kmart
Target.com
China
Government to investigate Ford valve stems
The government probes more than 1 million Ford vehicles after tire valve stems from Topseal Automotive of Shanghai Bao long Automotive are reported to leak or crack. Ford says no crashes or injuries yet and notes the stems appear on most new models including F-150 Mustang Edge Fusion Expedition Explorer Focus Escape and Mercury MKZ Milan.
MENTIONED IN THIS ARTICLE
Washington
Ford Motor Co
Ford
Wes Sherwood
Sherwood
Topseal Automotive
Shanghai Baolong Automotive Corp
National City reports quarterly loss and 4000 job cuts
Cleveland based National City Corp reported a third quarter loss and announced plans to cut about 14 percent of its workforce, or 4000 positions, over three years. The bank expects annual savings of 500 to 600 million by 2011, with 240 million savings and 80 to 100 million in charges in 2009. CEO Peter Raskind said the macro environment remains tough and likely to worsen before improving.
MENTIONED IN THIS ARTICLE
New York
National City Corp
National City
Peter Raskind
Raskind
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Ken Thomas
Associated Press
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Goay
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the Market IN Review
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