The rich are geting, well, you know…
Here’s an update on the stock sales of folks who are so much wealthier than you that they don’t even breathe the same air any more:
First, Oracle (ticker:ORCL) CEO Larry Ellison sold 4 million shares of Oracle stock between Nov. 6 and Nov. 9 at an average of $19.06 per share to collect $85.1 million.
Next, eBay (ticker:EBAY) CEO Meg Whitman sold 640,000 shares of eBay stock on Nov. 7 and 8 at an average price ranging from $32.16 to collect $21.4 million.
And finally, John Doerr (ticker:GOD) sold 42.350 shares of his Google (ticker:GOOG) stock on Nov. 1 for prices ranging from $703.50 to $712.59 per share to collect $30 million.
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Mr.Ellison needs to spend some of that money on a designer for his poor wife.Just goes to show, just cause you have billions of dollars does’nt mean you have good taste.No style or class there at all!
I always wonder what these folks do with the proceeds. They don’t need the money to pay their credit card bills, eh?
Why is larry dumping his stock anyway? duh, should this not be of some interest to like anyone???
They’re getting paid. But they also see the perfect storm ahead.
We’re nearing the end of the business cycle - actually the end of what has been a historical economic run. The signals are everywhere: from the housing downturn (U.S. and abroad), to the falling dollar, gold on the rise, both the Fed and Bank of England dumping billions into the system, and Fed’s recent drops in the interest rate. The money supply tells the tale.
Time to take a breather for a few years. Those with cash will be in the best position to benefit most by the next upturn.