Billionaire, or at least still multimillionaire, Kirk Kerkorian sold a large piece of his stake in Ford (F). The transaction amounted to 7.3 million shares at $2.43 each. The is only a tiny part of the 133.5 million shares that the old man owns.
According to MarketWatch, Kerkorian’s holding company Tracinda will focus on the gaming and hospitality, as well as the oil and gas industries, "in light of current economic and market conditions," They left out the part about Ford being a Chapter 11 candidate.
Douglas A. McIntyre