Topic: The Economy
What's up with this?
I don't know why, but I just find this a little unnerving...
Insiders Are Selling Like It's 1999
Eric Dash and David Leonhardt, The New York Times, May 23, 2004
Perhaps these guys know something the rest of us will know later, as in too late? Rats vis a vis sinking ships?Across corporate America, executives have been selling company stock as if it were 1999. Even amid this resurgence of insider selling, however, a few dozen executives - including those at Zimmer - stood out for having unloaded supersized portions of their personal stakes in their company's future. At Wendy's International, Qualcomm, Occidental Petroleum, Boston Scientific and Comverse Technology, one or more executives sold at least half their holdings, according to a SundayBusiness analysis of hundreds of big companies.
No. Couldn't be.
The Times says its something else.
Huh? Reread the sentence several times. What does it mean? I guess they're just being careful. That's it.The magnitude of insider selling, many governance experts say, suggests that even after more than two years of scrutiny, corporate America has yet to figure out how to link pay and performance. No matter what happens to profits or stock prices over the next year, some executives have already locked in multimillion-dollar paydays. Even if their corporate strategies fail in coming years, they could still retire with bank accounts fit for a king.
But, "... `We have been tracking insider sales since 1971, and in the last few months they have never been higher,' said David Coleman, editor of Vickers Weekly Insider Report."
Curious.
Posted by Alan at 21:48 PDT
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