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(NYPost)-December 7, 2006 -- America's corporate chiefs are unloading their own stocks at one of the boldest paces in 20 years.
In cases of the very rich, such as Microsoft's Bill Gates and Google's top brass, the executives are selling a whopping $63 for each $1 of stock they bought, says a report by Bloomberg.
In November alone, leaders of public companies dumped $8.4 billion worth of stock they owned as insiders, most of it awarded as compensation, bonuses or other
Analysts say a take-the-money-and-run flight from their own companies signals a growing lack of confidence in the economy's future course, as well as fears of a possible global meltdown if the Iraq crisis escalates across borders.
Wall Street investors are displaying fresh worries that the Federal Reserve might pull the trigger too quickly on hiking rates again, possibly plunging the U.S. into a recession as the Fed did in 2000.
Billionaire Paul Allen also sold off 28 percent of his stake last month in DreamWorks Animation SKG for $224.2 million, keeping about 21 million shares.
Insiders at Seagate sold $311.8 million in November, while Google insiders unloaded $182.1 million in the four weeks.
Originally posted by worldwatcher
please provide sources for the snippets you have included above.
as for the stock selling, well it could be something as simple as profit taking or it could be something more sinister, personally I don't buy the "soft landing" theory even though it's obviously working so far... guess only time will tell.