Gates, Schmidt Lead Stock Sales To Highest Since 1987

Broadslidin

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Wed Dec-06-06 01:38 PM
Original message

Gates, Schmidt Lead Stock Sales To Highest Since 1987

Edited on Wed Dec-06-06 02:22 PM by Broadslidin

Dec 6 (Bloomberg)

Stock sales by America's corporate chieftains
exceeded purchases last month
by the widest margin since 1987,
suggesting they don't share the confidence of investors
who have sent the Standard and Poors's index to a six year high.

Executives including Microsoft Corp.'s Bill Gates,
Google Inc.'s Eric Schmidt and Kohl's Corp. William Kellogg
in aggregate Sold $63.18 of shares For Every $1 They Bought In November,
an analysis by Bloomberg
of data from the Washington Service showed.
That's the highest since at least January 1987.

http://www.bloomberg.com/news/exclusive

Please Note:
The Bloomberg web address given at the top of the report
does not bring a person directly to the article.

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stillcool

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Wed Dec-06-06 02:02 PM
Response to Original message

1. three snippets that grabbed my attention

The data has ``value for investors,'' said Wayne Reisner, who oversees $1.6 billion at Carret Asset Management in New York. ``It's people who are very familiar with their company and their stock, and they are making a statement.''

The consistency of the increase in insider selling since June should also be unsettling to investors, according to David Coleman, the editor of the Vickers Weekly Insider Report.

``In spite of the fact that insiders typically sell into a rising market, these levels of selling are highly unsettling,'' Coleman said from Fairfax County, Virginia.

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Joe for Clark

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Wed Dec-06-06 02:17 PM
Response to Original message

2. It is kind of scary isn't it -

I was looking at insider buy/sells. I picked what I thought were representative companies and industries. Here is what I found - I looked at Merck, Cisco, IBM, Merrill and even Lockheed - Drug, chips, Investment banking, etc.. There are no insider buys this year - all sales. Lockheed was a shocker to me. I didn't even bother to look at GM.

How long does the stock market hold up when the dollar is failing so badly, exactly? That is the question.

Joe

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Broadslidin

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Wed Dec-06-06 03:09 PM
Response to Reply #2

3. Iraqi/China Oil Contracts Written in Euro Dollars...?

Whatever type of Iraq government entity eventually evolves,

future Iraqi Supreme Ruler(s) may Not be inclined to sell
their oil to the plundering western oil corporations.

As China begins to dump U.S. securities,
(China currently holds nearly
$1 Trillion u.s. federal govt debt.)
Corporate America's close business associate,
Communist China will make an offer written in Euro Dollars
to the future Iraq government(s),
which will be accepted by the Iraqis with open arms...!!

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