Amazon’s Bezos Made $152 Million Selling Shares

[marmar]

from the NY Post:



Top execs - like Jeff Bezos (pictured) of amazon.com - are going on a selling spree, sparking speculation on whether we might have hit a high-water mark in stock growth.


Amazon.com Chairman and CEO Jeff Bezos joined a growing conga line of US corporate insiders earlier this month when he sold 932,811 of his 89 million company shares -- pocketing a cool $152 million.

The sale brought his total 2010 sales of Amazon stock to 6 million shares and his take to $792 million.

That can buy a lot of Kindles.

Bezos is far from the only corporate insider cashing in.

In fact, with the stock markets rallying since Sept. 1 and with the possibility that capital gains taxes and income taxes could jump next year, executives and directors have cashed out nearly $23 billion of stock and options so far this year -- a pace nearly four times faster than during the dark days of the 2008 recession, says a new report.

"The volume of insider transactions has increased dramatically over the past three weeks," said Ben Silverman, director of research at InsiderScore.com, which tracks sales of securities held by corporate insiders. .........(more)

The complete piece is at: http://www.nypost.com/p/news/business/insiders_out_bezos_others_cash_in_tYjvueZ1ZAgKTTL792TEbK#ixzz1550GOtMv

[ProgressiveProfessor]

1. Classic tax avoidance..................n/t

[cbdo2007]

2. Insiders selling is not an indication of bad news.

Though insider buying is an indication of good news.

There are many reasons to sell your stock - get cash, avoid taxes, etc. but only one reason to buy stock.