Follow LA Observed on Twitter here
So last spring the Bev Hills billionaire bought 140.8 million shares in the automaker for $1 billion, or around $7.10 a share. On Monday, he sold 7.3 million shares at an average price of about $2.43. If he sold his entire stake at about that same price, he would have lost about $666 million, according to the NYT's Cyrus Sanati. That's just his latest shellacking - the NY Post reported a couple of weeks back - before Ford - that his stock fortune had plunged from a high of $16.6 billion to just $3.1 billion (besides Ford, he's taken huge hits at MGM Mirage and Delta Petroleum).
More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAXSocal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the HomogenoceneOne last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing
New at LA Observed
On the Politics Page
Go to Politics
Sign up for daily email from LA Observed
Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.