Tracinda says will not acquire more GM stock
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Tracinda Corp., the investment firm  representing billionaire investor Kirk Kerkorian, said in a  regulatory filing on Friday it has decided not to acquire  additional shares of General Motors Corp.  common stock.
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WILMINGTON, Delaware  - General Motors Corp.  is making progress in its turnaround effort, the automaker's chief executive said on Tuesday at its annual meeting, where all 10 shareholder proposals were rejected.
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Kirk Kerkorian&#39;s Tracinda Corp. on  Wednesday backed off plans to restructure MGM Mirage Inc.  , after the casino operator announced a new multibillion  dollar Las Vegas resort project.
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Holders of about eight million shares of Magna International  class A stock, or about 8 percent of the total outstanding, have confirmed they voted against a plan to sell 20 percent of the auto-parts maker to a Russian billionaire, the Globe and Mail newspaper said.
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General Motors Corp.  Chief Executive Rick Wagoner declined on Tuesday to say whether the world's largest automaker would bid for struggling rival Chrysler Group, but said the escalating costs facing the industry favored more alliances and mergers.
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Holders of about 8 million shares in  Magna International (MGa.TO) class A stock, or about 8 percent  of the total outstanding, have confirmed they voted against a  plan to sell 20 percent of the auto-parts maker to a Russian  billionaire, the Globe and Mail newspaper said.
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General Motors Corp. , in the midst of reassessing its unprofitable European operations, is not ruling out closing a plant there and is likely to cut some jobs, a GM spokesman said on Wednesday.
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In Toronto story headlined &#39;Stelco loses contract to supply steel to GM-lawyer&#39;, please read in first paragraph...General Motors Corp...instead of General Motors Inc. Corrects company title. TORONTO, Nov 22  - Stelco Inc.
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General Motors Corp. (GM.N: Quote, Profile, Research) said on Friday it may not dump Stelco Inc. (STEa.TO: Quote, Profile, Research) as a supplier even though Canada&#39;s
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Italians are nervous Fiat will take the extreme option of hiving off its auto arm to General Motors in 2005, but analysts say it is unlikely to sell until the 105-year-old carmaker is clear of crisis.
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DETROIT -- Dissident General Motors Corp. shareholder Kirk Kerkorian said Friday that he no longer plans to acquire additional stock in the world's biggest automaker, citing GM's decision not to pursue an alliance with Renault and Nissan.
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The Tracinda Corporation said it was ending negotiations on the possible purchase of MGM Mirageâs Bellagio hotel-casino and its CityCenter project.
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MILAN, Italy  - Fiat refrained from exercising an  option to sell its car unit to General Motors when it came due  on Monday, saying it would wait at least until the end of talks  to settle a spat over the put's validity.
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WILMINGTON, Delaware  - General Motors Corp.  investors rejected all 10 shareholder proposals at its annual meeting on Tuesday, including one that would give investors more influence in board elections and another that would recoup bonuses when results are revised downward.
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General Motors Corp. GM.N, in the  midst of reassessing its unprofitable European operations, is  not ruling out closing a plant there and is likely to cut some  jobs, a GM spokesman said on Wednesday.
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Billionaire investor Kirk Kerkorian on Friday shelved plans to raise his stake in General Motors Corp.  and his financial adviser on GM quit the automaker's board days after GM nixed a three-way alliance with Renault-Nissan.
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With the collapse of his bid to push General Motors Corp. into an alliance with two foreign automakers, Kirk Kerkorian has yet to reap a windfall on his investment in the automaker, which analysts said could drive him to seek ways to further lift the stock price.