OT? Warner Lambert Executive Sells......

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7 Million!!! Dollars of Stock. A statement released by the company said the executive's decision was a personal one and represented a very small amount of shares. Story can be found at CNNfn. Yes, I know someone will scream this is small potatoes, simple profit taking. This does seem to be happening an awful lot lately. Why sell when the the market futures are so rosy and peachy keen? :)

-- Gia (laureltree7@hotmail.com), October 13, 1999

Answers

http://cnnfn.com/1999/10/13/news/wires/warner_wg/

Warner exec sells shares Chief of Warner-Lambert's Adams unit sold $7M of stock this month October 13, 1999: 2:45 p.m. ETWASHINGTON (Reuters) -

J. Frank Lazo, president of the Warner-Lambert Co. unit that makes Trident and Dentyne chewing gum, sold $7 million worth of Warner-Lambert stock, a company spokeswoman said Wednesday.

Lazo, who heads the company's Adams confectionery division, sold 100,000 common shares this month at $70 per share. The stock represented "a very small fraction" of Lazo's holding in the company, spokeswoman Carol Goodrich said.

She declined to comment on why he sold, calling it a personal decision.

Lazo filed Oct. 7 with the Securities and Exchange Commission to sell the shares, a common practice whenever a company's insiders want to unload stock.

-- sandi (sandihere@mailcity.com), October 13, 1999.


When you see these kinds of numbers put out by the big company major executives, it makes you sick.

The greed for more inflated option values has been the driving force behind the decimation of American industry over the past 25 years.

HY DO YOU THINK THERE IS A $25-30 BILLION TRADE DEFICIT EVERY MONTH??

How long will foreigners keep re-lending back the US dollars that they got by selling US all their cheap slave-labor goods?

Don't you think they'll want repayment someday, in REAL mONEY?

Think NIKE, or any other true-blue turncoat company. Do you pay significantly LESS for the same sneakers now that they are made in countries where 50 cents an hour is considered double-time?

What has not been mentioned up to now, as far as I know, is that these greedsters have been chasing a shadow. IF Y2K is a 5 or worse, any unexercised stock options will be worth precisely ZERO very shortly.

So all the factory shutdowns and relocations will end up having benefited only a VERY small number of pigs for a VERY short period of time. At least we may see some "egalitarianism" from a force mightier than anyone can imagine.

-- profit-of_doom (doom@helltopay.ca), October 13, 1999.


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