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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

Ford looks to protect logo from Toronto mayor followers

One is a member of the Detroit Three and the maker of the Mustang, Fusion, Explorer and F-150. The other is an admitted loudmouthed, drunk-driving, crack-smoking mayor in Canada. Unfortunately for one, it shares its name with the other. Yes, Ford Motor Company is going to great lengths to keep its iconic Blue Oval logo from being appropriated by supporters of besieged Toronto mayor Rob Ford.
At a United Way event earlier this week, some of Mayor Ford's fans showed up with shirts that featured the automaker's logo with the words "Ford Nation," on them. Naturally, Mayor Ford signed them. FoMoCo was quick to issue an unhappy statement:
"Ford did not grant permission for use of its logo. We view it as an unauthorized use of our trademark and have asked it to be stopped," spokesperson Jay Cooney said. There was also a statement from Ford of Canada's Twitter account after a user alerted the company:

Ford profiles surprisingly affluent Focus ST buyers

It comes as no surprise when Ford says that 32-percent of Focus ST buyers are under 35, but we weren't expecting this: the average annual salary of Focus ST buyers is $127,000. Twenty-two percent of non-ST Focus buyers are under 35, while their average annual salary is $67,000.
We like the Focus ST because it has 252 horsepower, is genuinely fun to drive and offers great value for performance-minded car enthusiasts; facts that are not lost on customers, it seems. Ford says that the Focus ST has the highest percentage of conquest sales for a non-hybrid model it sells, and that the top-four trade-ins are from Honda, Chevrolet, Mazda and Toyota. Demand for the hot Focus is strongest in Los Angeles, Detroit, Houston and Orlando.
"[The Focus ST is] having this kind of halo effect for other vehicles we'd hoped for when we invested in the ST brand," says John Felice, vice president of US marketing, sales and service, because it's helping to boost sales of other Ford vehicles.