Insider Selling
Housing Panic talks about the ridiculous insider selling by the CEO of Countrywide (CFC) - $140 million or so over the past 14 months. This fine steward of his business isn't the only one at Countrywide who's been selling. Overall, there was over the past couple years $586 million in insider sales at CFC, and just $73,000 (yeah, thousand) in buys.
This huge insider selling is typical of most large public companies, where the main purpose of the enterprise is to enrich the top executives at the expense of the employees and shareholders. This is of course on top of monstrous salaries and other executive compensation.
Some other typical examples:
Intuit (INTU) $160 million in sales, $361,000 in buys
New Century Financial (NEW) $59 mil in sales, $430,000 worth bought
Google (GOOG) $8 billion sales, 0 (zero) buys
Microsoft (MSFT) $3.9 billion sales, $399,000 buys
General Electric (GE) $10.4 billion sales, $12 million buys
Who's buying when those in the know are selling?
This huge insider selling is typical of most large public companies, where the main purpose of the enterprise is to enrich the top executives at the expense of the employees and shareholders. This is of course on top of monstrous salaries and other executive compensation.
Some other typical examples:
Intuit (INTU) $160 million in sales, $361,000 in buys
New Century Financial (NEW) $59 mil in sales, $430,000 worth bought
Google (GOOG) $8 billion sales, 0 (zero) buys
Microsoft (MSFT) $3.9 billion sales, $399,000 buys
General Electric (GE) $10.4 billion sales, $12 million buys
Who's buying when those in the know are selling?
posted by J.Q. Beck at 3/07/2007
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