Kirk Kerkorian: Doubling Down or Bailing Out?
Even for a wheeler-dealer with an estimated $8 billion bankroll, these are tough times. Two weeks back, Los Angeles billionaire Kirk Kerkorian seemed to have avoided a margin call from Bank of America (BAC) by pledging 50 million shares of gaming giant MGM Mirage (MGM). On top of that, a $684 million investment his private financing company Tracinda made late last year in Denver-based oil exploration firm Delta Petroleum (DPTR) is hemorrhaging, having lost roughly half its value as oil prices have tanked.
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