Is it time to order another "M" for the GM logo atop the Renaissance Center in downtown Detroit?
Billionaire investor Kirk Kerkorian last week got the OK from the U.S. government to increase his stake in General Motors. He promptly spent $56.7 million to buy another 2.1 million shares.
That gives Kerkorian's Tracinda Corp. 56 million shares of GM stock, about 9.9 percent of the total stock available. He is still talking with GM about getting a seat on the automaker's board of directors.
Tracinda also is the majority owner of hotel and casino company MGM Mirage Inc. Adding an "M" in front of the GM logo would make the old lion feel right at home.