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Reply #12: prior knowledge? gimme a break [View All]

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TheWebHead Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jun-06-10 07:08 AM
Response to Original message
12. prior knowledge? gimme a break
so he knows the stock is about to drop 35% after a rig explosion and BOP failure, and he sells less than 1/3 of his position. it's nonsense. The stock was trading at a 52 week high in the weeks before the disaster, so selling was logical and was likely a diversification strategy most insiders employ, unless you're an idiot like aubrey mcclendon was with Chesapeake in 2008 - all in and on margin. He's had foot in mouth syndrome and company wide they didn't take safety seriously enough, but if he had any idea this was about to happen they would've taken steps to prevent it rather than becoming America's pinata, crashing their stock, and exposing his 2/3+ remaining position to bankruptcy.
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  -BP chief Tony Hayward sold shares weeks before oil spill highplainsdem  Jun-04-10 08:28 PM   #0 
  - It just figures..that asshole would be able to save his ass to some extent.  BrklynLiberal   Jun-04-10 08:47 PM   #1 
  - Only 4 million (pounds) a year. How DOES he scrape by.  FailureToCommunicate   Jun-04-10 08:50 PM   #2 
  - Amazing co-incidence.  dixiegrrrrl   Jun-04-10 08:55 PM   #3 
  - why did he do that?  Rosa Luxemburg   Jun-04-10 09:02 PM   #4 
  - I'm just waiting for some kind of "Enron" type of information  davidpdx   Jun-04-10 09:17 PM   #5 
  - Coincidentally, that is -- and more than strange . . . !!  defendandprotect   Jun-04-10 09:19 PM   #6 
  - He knew....  Patchuli   Jun-04-10 09:27 PM   #7 
  - Oh FFS  Ruby the Liberal   Jun-04-10 09:29 PM   #8 
  - Transparency?  Trillo   Jun-04-10 09:36 PM   #9 
  - granted the man is a sleaze  davidinalameda   Jun-04-10 10:04 PM   #10 
  - *phew* ... I smell a big rat!  CountAllVotes   Jun-05-10 09:34 AM   #11 
  - prior knowledge? gimme a break  TheWebHead   Jun-06-10 07:08 AM   #12 
  - Amazing this man isn't in custody  Doctor_J   Jun-06-10 07:23 AM   #13 
  - sell high, buy low? n/t  1Hippiechick   Jun-06-10 08:01 AM   #14 
  - Things that make you go "hmmmm". n/t  Zorra   Jun-06-10 02:56 PM   #15 
 

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