In light of the SEC order, Tracinda rewrote its agreements governing its 6.43 percent stake in Ford Motor Co. and filed the amendments late Tuesday. The order sheds new light on Kerkorian's decision to sell off his entire stake of GM stock over the course of two weeks in November 2006. Kerkorian met with Tracinda's closest advisers to his investment in GM on Nov. 16, with a key adviser suggesting the price of GM stock would likely fall after the second quarter of 2007, according to SEC documents. Discussion at that meeting centered on whether Kerkorian should sell half of his 56 million shares of GM stock, according to the five-page cease-and-desist order made public Wednesday. By Nov. 20, Tracinda had offered to sell 28 million shares of GM stock to a broker-dealer. 'That firm was willing to buy 28 million shares, but only at a significant discount to the then-current market price. (Tracinda) was not willing to sell at that price at that time,' the SEC wrote. 'Instead, respondent asked for a bid on 14 million shares. This time the price was higher and (Tracinda) executed the transaction that day.' On Nov. 22, Tracinda disclosed the sale of 14 million shares but 'did not disclose that (Tracinda) had a plan to sell 28 million shares of its GM stock. Nor did (Tracinda) disclose that it had proposed a sale of 28 million shares of GM stock.' Instead, Tracinda said it might 'acquire or dispose of additional shares.' On Nov. 28, Tracinda sold an additional 14 million shares of GM stock to another broker-dealer. Two days later on Nov. 30, Tracinda sold its remaining GM shares. The SEC order also provided insight into Kerkorian's thinking behind his purchase of GM Stock. On Feb. 1, 2005, Kerkorian asked a trusted adviser -- not named by the SEC -- about whether he should invest in GM. By April 1, a key Kerkorian adviser, Jerry York, completed a report and said the investment was a 'no-brainer,' according to the cease-and-desist order. Kerkorian ultimately owned 9.9 percent of GM stock through Tracinda and another of his holding companies, 250 Rodeo Inc., which was dissolved in December 2006. York joined GM's board of directors in February 2006 and urged the board to consider an alliance with Renault-Nissan. The board announced Oct. 4 it would not continue discussions over an alliance and York resigned from the board on Oct. 6. Six weeks later, Kerkorian met with his aides to discuss a sale of his stock. You can reach David Shepardson at (202) 662-8735 or [email protected].