skippy the bush kangaroo: the rats are leaving the ship

Tuesday, June 23, 2009

the rats are leaving the ship

pessimistic executives cash out of shares

executives in charge of the largest us companies sent a signal of their concerns by selling far more shares than they bought this month, according to data based on securities and exchange commission filings.
share sales by so-called company insiders are outstripping purchases so far this month by more than 22 times. trimtabs, the investment research company, said insiders of s&p 500 listed companies have unloaded $2.6bn in shares in june, compared with $120m in purchases.
“the smartest players in the us stock market – the top insiders who run public companies – are not betting their own money on an economic recovery,” said charles biderman, chief executive of trimtabs. - financial times

they want the united states to fail. greed over country.

Labels: ceo, financial markets, stock market

posted by Cookie Jill at 11:43 AM |

3 Comments:

no, no, come on now, Skippy. Easy does it. they don't want the US to fail. Typical greedhead corporate execs, they just want to "get theirs" while they can--while the getting is good, so to speak. They just want to cash out while they believe the market is at its peak.

Lots of market watchers are all thinking the same thing and that is that the market is going to come down in a big way this Fall.

Stay tuned.

Mo Rage
www.moravings.blogspot.com
www.kcphotogblog.blogspot.com

commented by

PFL0W, 2:32 PM PDT

U.S. CEOs are crooks. And equally as bad, they are incompetent. And to top it off they're vastly overpaid.
CEOs in Japan and Europe only get a tiny fraction of the pay that U.S. CEOs get.
While grossly overpaid Detroit CEOs were betting the farm on gas-guzzling SUVs, the Japanese and Germans were busy perfecting new technologies that save fuel.
As a result, the Japanese are now masters of the wildly popular hybrids. And the Germans are doing well with their increasingly popular new generation diesel engines.
As a result, Detroit is a failed basket case. Meanwhile, while the German and Japanese automakers do face challenges in this worldwide recession, nobody is seriously talking about any of them going bankrupt. And keep in mind, Japan has no fewer than 12 automakers. The Germans have six.
The U.S. is now down to two (if you exclude the Italian-owned Chrysler). And even the remaining two are basket cases and could well be extinct in a decade.
So why, exactly, did Ford's and GM's CEOs get 50 times the pay of their Japanese and European competitors? To make one stupid decision after another for the past 30 years? Are there any GOP/"free" market backers around who can explain this to me?

commented by

Marc McDonald, 9:20 AM PDT

Think more of a sinking cruise ship where the Captain and crew jump into the first life raft and leave the clueless guests to fend for themselves.

Even rats don't behave so badly towards their own kind.

commented by