[big_rc]

Check out this article about insider selling on Wall Street. Anybody have any comments?

Insider Selling

[BabyPeanut]

Some $6.6 billion in insider stock sales took place last month, the highest level since the $7.7 billion in sales tallied in August 2000, according to Thomson. Contrast that with the $144 million worth of stock that was bought by insiders last month.

Wasn't August 2000 about the time the Internet bubble popped?

[frankthetank]

I read about this before...somethings going on here...most on here agree that the end has got to be near, maybe insiders are catching on..???

Think it popper around March 2000

http://bigcharts.marketwatch.com/charts ... &rand=2498

[ararboin]

Take, for instance, the surge in shares of homebuilder NVR Inc., which has seen its stock jump from just over $432 a share at the start of the year to now trade about $730 apiece. That rise has come despite expectations for a slowdown in the housing market as interest rates begin to climb.

Also troublesome with that giant stock run-up is that NVR's insiders have been bailing out of the stock big time. They have sold more than $220 million in shares this year alone.

This is really interesting. I wonder what would cause the company's stock to explode upward by almost $300 in ten months and yet insiders are dumping their shares. Apparently the stockholders haven't heard about the possible real estate bubble bursting. Or they just can't be bothered.

[Liamj]

Amazing to think that this occurs in broad daylight and is completely legal.
Call me a cynic, but isn't it wholesale THEFT from investors, most notably pension funds?

1-Shareholders 'employ' management to protect their capital investment.
2-Management votes itself massive payouts (salary, share options, performance bonus, retention bonus..) liquidating capital or draining cashflow to do so, and exits stage left.
3-When recession/depression comes, Shareholders discover insufficient funds/assets to cover their investment (or workers entitlements, outstanding accounts). Unfortunately the new Management is not responsible for past errors, while the old Management suffers from memory loss, can't be found, wont talk, etc.

This has happened so often we need to settle on a durable term for it... can't remember who coined "corporate kleptocracy" but works for me.

Contemporary Govt inaction on Corp governance should be contrasted with hard line on crimes of the poor (jail for shoplifting food, for being intoxicated, for possessing recently outlawed drugs etc). Sure a very few white (collars) do get jail time, but nothing like proportionate to # of black &/or poor males who get jail for pissant crimes.

I like to believe that in the future jilted, hungry, and angry retirees will go looking for these crooks, haunting them from Palm Springs to Whistler to whereever they try to pile their cash.

[The_Virginian]

over six billion vs. over 7 billion.

Hmm...

the market is still somewhat lower... less tech companies w/ high stock values, and heavy "finiancial sector" selling..

that would make the 6 bill at least as bad a s the seven of 2000.

Good find RC...yep the scramble is on, and oil prices had everything to do with the justified panic.