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Auto investor Kirk Kerkorian dead at 98

Kirk Kerkorian, among the most talked-about investors in the American auto industry in recent memory, died at the age of 98 in Los Angeles on Monday, June 15. The billionaire ran the investment company Tracinda Corp. and was the largest shareholder in MGM Resorts International. Kerkorian attempted to use his power as a well-financed investor to push the auto industry in some fascinating ways. In 2006, he used his nearly 10-percent stake in General Motors to push a merger with the Renault-Nissan Alliance. The deal made it as far as discussions, but eventually fell through. Kerkorian also attempted to purchase Chrysler - twice. According to Automotive News, the first effort came in 1995 with a $22.8-billion offer for the automaker, and soon after it failed the company merged with Daimler. Then in 2007, Kerkorian was back with a bid for $4.5 billion, but things eventually fell to Cerberus. The billionaire finished the trifecta by buying up $1 billion in Ford stock in 2008 to make Kerkorian the single largest investor in the company. However, the situation didn't last long, and by the end of that year, he had unloaded the shares. According to Automotive News, Kerkorian was ranked by Forbes as the world's 41st richest man in 2008 with a net worth of $16 billion. News Source: Automotive News - sub. req.Image Credit: Joe Cavaretta / AP Photo Celebrities Earnings/Financials Chrysler Ford GM obituary

2022 Chrysler 300 and Dodge Challenger, Charger recalled for faulty TPMS sensors

Stellantis is recalling some of its longest-running models to address a tire pressure monitoring system (TPMS) sensor defect that may be erroneously indicating a low-pressure condition — 52,340 cars shipped with sensors built with batteries that may fail prematurely, triggering a TPMS light when there is no actual safety threat.  A TPMS light that remains constantly illuminated is not only annoying but it could also mask a real tire pressure loss, which is a safety hazard. Stellantis says the production range for potentially impacted models runs from September 7, 2021 to June 9, 2022, indicating it took some time for issues to crop up in the wild, so just because no issue has crept up yet, doesn't mean it won't later on.  Notices have begun circulating to dealers and should be sent to owners by early September. In the meantime, owners should verify any tire pressure warnings independently before driving their vehicles.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. How To Fix A Tire Leak | Autoblog Wrenched

Apple picks up former FCA quality boss Doug Betts

Apple made a significant personnel move that further signals its entry into the automotive world, hiring former Fiat Chrysler executive Doug Betts for an unspecified role. The information was obtained by The Wall Street Journal, which cites Betts' LinkedIn page. His career included stints at Toyota and Nissan before joining Chrysler Group (now FCA US LLC) in 2007, although his time there didn't end well. He left FCA, where he served as the automaker's head of quality, after the company's dismal showing in Consumer Reports' 2014 Annual Auto Reliability Survey. According to Betts' LinkedIn profile, which has since been pulled down, his job title reads "Operations – Apple Inc" in the San Francisco Bay area. Apple, meanwhile, was unwilling to divulge anything to the WSJ, although there's plenty to infer based on the hire. Betts wasn't the only big auto-related hire. According to the WSJ, Cupertino also lured an unnamed but "leading" autonomous vehicle researcher from Europe, who will be part of a team being setup to study driverless systems. Related Video: