Getbig Bodybuilding, Figure and Fitness Forums
July 22, 2014, 10:26:16 PM *
Welcome, Guest. Please login or register.

Login with username, password and session length
 
   Home   Help Calendar Login Register  
Pages: [1]   Go Down
  Print  
Author Topic: Top-Level Insiders Selling Their Stock  (Read 722 times)
240 is Back
Moderator
Getbig V
*****
Posts: 81735


Complete website for only $300- www.300website.com


View Profile WWW
« on: December 08, 2006, 07:38:54 AM »

PAUL THARP
NY Post
Friday, December 8, 2006

America's corporate chiefs are unloading their own stocks at one of the boldest paces in 20 years.

In cases of the very rich, such as Microsoft's Bill Gates and Google's top brass, the executives are selling a whopping $63 for each $1 of stock they bought, says a report by Bloomberg.

In November alone, leaders of public companies dumped $8.4 billion worth of stock they owned as insiders, most of it awarded as compensation, bonuses or other management incentives.

But the vast majority of the executives put their windfall cash to work elsewhere, with just $133 million being plowed back into purchases of more company stock.

Analysts say a take-the-money-and-run flight from their own companies signals a growing lack of confidence in the economy's future course, as well as fears of a possible global meltdown if the Iraq crisis escalates across borders.

It's also a good time to take profits, with the Dow Jones industrial average up nearly 15 percent this year, the S&P 500 ahead 13 percent, and the Nasdaq 11 percent higher.


Wall Street investors are displaying fresh worries that the Federal Reserve might pull the trigger too quickly on hiking rates again, possibly plunging the U.S. into a recession as the Fed did in 2000.

Just before the worst of the 2000 recession, insider sales were also at a near record.

Leading the latest wave of insider selling is Microsoft, with $594.2 million of stock sold by insiders during November, with Gates unloading $581.1 million.

Report to moderator   Logged

Pages: [1]   Go Up
  Print  
 
Jump to:  

Theme created by Egad Community. Powered by MySQL Powered by PHP Powered by SMF 1.1.16 | SMF © 2011, Simple Machines Valid XHTML 1.0! Valid CSS!