| Blogs > ackman1465 > Views from the top.... |
|
Bear Stearns demise... Do you suppose the 14,000-odd employees who've seen their investment in this company evaporate will be interested to know how their bosses have been handling matters lately???? December 21, 2007 was a busy day for insider trading at Bear, Stearns, as seen by this list... which list, incidentally, is readily available in the public domain (I got it from my Quicken site): Transactions 12/21/07; James Cayne, Officer of the Company: Exercised option to buy 172,621 shares at $0.00 cost to him. SOLD 172,621 shares with proceeds of $15,365,995.... {Not bad for a day's work. Probably needed a few bucks for Christmas shopping....} Alan Greenberg, Director, Exercised option for 99,293 shares {$0.00 cost}; Sold them for $8,838,069.... Michael Minikes, Officer, Exercised 25,927 shares {$0.00 cost}; Sold 'em for $2,307,762... Samuel L Molinaro, Jr, Officer, Exercised 65,468 shares; Sold 27,726 for $2,467,891. {Guess he's stuck with the extra 37,742 shares, since they're only fetching $75,484 these days!} Michael Solender, Officer, Exercised 2087 shares; Sold 2087 shares for $185,763. Jeffery Mayer, Officer, Exercised 102,400 shares; Sold 'em for $9,115,336. Alan Schwartz, Officer, Exercised 161,662 shares; Sold 67,900 of 'em for $6,043,779. {Stuck with 93,762 shares that will only get him $187,524 these days. Poor thing!} Sooooo, who knew what, back in December. Lest any of you suspect that I write from sour grapes... note that I have no interest in this Company.... AND, of course, I think these people are certainly ENTITLED to their stock options. After all, they were steering Bear, Stearns in treacherous waters. OOoooops, looks like they lost their grip on the wheel last weekend.... |
|||
3/18/2008 8:00 am |
The boys at the top always look after themselves. It's incredible that execs of companies that lose money consistently still get generous financial rewards.
| ||
3/18/2008 8:07 am |
They need their ass kicked....SOBs....What is the difference between their deeds and stealing? None.... Who do you trust???? No One!! We are the herd, born to be screwed...Some harder than others..Its like we are watching one of our herd being eaten by a lion while the rest of us graze away paying little attention...oh well it ain't me so lets continue to graze... Sucks big time!! welcome to life...hey look, more to eat over here, stumble on over...
| ||
3/18/2008 8:40 am |
VBG: Info from the same site. These are/were the 10 largest mutual fund investors in Bears, Stearns shares {name and quantity}: Vanguard/ Windsor II: 8,358,352 shares PUTNAM FUND FOR GROWTH AND INCOME: 2,350,605 LEGG MASON VALUE TRUST: 1,600,000 JANUS TWENTY FUND: 1,496,429 VANGUARD 500 INDEX FUND: 1,100,046 PUTNAM VOYAGER FUND: 965,300 American Beacon Large Cap Value Fd: 862,450 PUTNAM INVESTORS FUND: 742,700 VANGUARD TOTAL STOCK MARKET INDEX FUND: 702,594 COLLEGE RETIREMENT EQUITIES FUND-STOCK ACCOUNT: 696,560 Multiply those quantities by $70.00 and that was their value on March 7th.... then by $4.00 to see roughly where they are today.....
| ||
|
the good 'old boy club? ....like what's new? have you heard about Delta,,,gonna offer 20,000 + employees a goodbye check.... the older the girl, the harder it is blow smoke up her azz, quote 2 1/2 men 
| ||
3/18/2008 10:08 am |
Insider trading is still against the law. Depending upon what the governments hot button happens to be these guys may find themselves spending all those profits defending themselves
| ||
3/18/2008 10:10 am |
....Were any laws broken? "The cause of America is in a great measure the cause of all mankind."....T. Paine
| ||
3/18/2008 11:26 am |
60min: There are laws regarding FIDUCIARY responsibility.... basically: If you take responsibility for peoples' money, then you must act in a prudent manner. While the trading I enumerated doesn't constitute lawbreaking by the letter of the law.... don't be surprised if investors DO agree that the leaders of Bear, Stearns were derelict in their fiduciary duties.... and ask them to answer for their activities before the bar... Perhaps, if they're found guilty, they can get cells adjacent to Dennis Kozlowski.... or graves next to Ken Lay..... Isn't there a TV show, these days, called American Greed?....
| ||
3/18/2008 8:45 pm |
OK so no laws were broken right? "The cause of America is in a great measure the cause of all mankind."....T. Paine
| ||
3/18/2008 10:08 pm |
60minman: Did anybody - prior to you - say that any laws were broken?
|
×
×