Saks Inc. (NYSE: SKS) may have gotten a better endorsement than if Warren Buffett or Bill Gates bought into the retailer. Mexican billionaire and the second richest man in the world Carlos Sliim has added some $4.9 million worth of Saks stock. The shares. purchased via a trust called Inmobiliaria controlled by his family, came to 690,000 shares with prices from $6.99 to $7.20. This now takes the total control from the Slim family trust up to 17 million shares.
Saks closed down $0.03 at $6.21 today, and the 52-week trading range is $5.80 to $7.73. Thistransaction makes Slim closer to being the largest holder of theupscale retailer.
In this market, Slim is likely to get the chance to buy as much as he wants.
Jon C. Ogg
October 9, 2008
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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