Well off and well along, Kirk Kerkorian and Lee Iacocca said last week (in the words of another well-known septuagenarian) that it might be, it could be, it . . . sort of is an offer to buy Chrysler Corp. for $55 a share.
Harry Caray, and, as far as we know, Bob Dole, aren’t involved in the group that supposedly would pay more than $20 billion for the nation’s third-largest automaker. But grumpy old men everywhere must be cheering Kirk and Lee for showing that geezers can be spry and that their generation still has some big jobs to do.
Still, we live in a skeptical age, and most of us recall the 1980s. Casino magnate Kerkorian, who already owns 10 percent of Chrysler, can’t come up with the billions to buy the other 90 percent, according to Wall Street wisdom. Street talk has it that Kerkorian’s real aim is to force the company to buy his stake at premium share prices or attract others with deep pockets to pay a high price to acquire Chrysler.
One attraction could be the more than $7 billion that Chrysler management has socked away to cushion the company during any economic or auto industry downturn. Since taking over from Iacocca in 1992, Chairman Robert J. Eaton and his team have been praised for guiding Chrysler probably better than Iacocca did.
Thus, some speculation out of Detroit has it that an envious Iacocca joined Kerkorian, adding $50 million to the kitty, in an operation to drive his successor out of office.
