MGM Mirage majority owner Kirk Kerkorian has apparently abandoned all hope of remaking General Motors. He sold one fourth of his shares last week and then sold another fourth in an off-market transaction and now the Wall Street Journal reports that he has sold the rest of this stock in the auto maker to Bank of America.

The New York TImes speculated earlier Thursday that Kerkorian had dumped his stock and, thinking that fhe billionaire investor was getting out altogether, a number of analysts put GM on their sell list. And then the Associated Press reported late Thursday night that the Wall Street Journal was reporting that Tracinda Corp. had sold all its GM stock. Kerkorian's plan for a Nissan alliance was steadfastly reject by the board.

Kerkorian was G.M.’s biggest shareholder  with just under 10 percent of the company and a clear plan to push the board to change the business strategy, until that is, he began selling his stock last week. His initial sale, of 14 million shares, came in a private transaction, for $33 each. The rest seems to have gone for just under $30. Whatever, the exact situation, Kerkorian would certainly seem to be below the 5 percent where his investment has to be made public.