Tracinda

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Tracinda Corporation is a private investment corporation owned by Kirk Kerkorian. Major investments include majority ownership of MGM Mirage. Tracinda is headquartered on Rodeo Drive in Beverly Hills. The company is named after Kerkorian's daughters, Tracy and Linda.

Tracinda formerly owned ten percent of General Motors; it sold all of its stock in November 2006.^[1]

Tracinda most recently made headlines by offering $4.5 billion to buy Chrysler on April 5, 2007, causing the shares of DaimlerChrysler to soar 5.3%. However, many have speculated that the dollar value of the bid is inadequate for DaimlerChrysler to accept. Kerkorian is assisted in this deal by his aide and employee, Jerome York, who had previously served as chief financial officer for Chrysler.

Interestingly, Kerkorian also bid in 1995 to take over Chrysler, unsuccessfully, and was assisted at that time by York, as well as Chrysler's former chief executive officer Lee Iacocca. The deal fell apart after Kerkorian and Tracinda were largely locked out of financing for their offer after heavy lobbying by Chrysler against the bid on Wall Street.

On May 16, 2008, Tracinda contacted Ford shareholders in a bid to buy 20,000,000 shares by June 4, 2008, at a rate of $8.50 a share.