Posted on 09/19/2004 2:41:21 PM PDT by rantblogger
Negative. He must disclose the sale and its details w/in 30 days of the sale. No advance notice is required, except in accordance with consent decrees (rare), and/or as a result of other actions in/of the sundry courts.
outrage! agree on 11
Firing the head of CBS NEWS or Dan Rather would have been / would still be, the best response. Or pulling the rug out from under Rather and accepting his resignation.
This is a trivial amount of stock in relation to what Redstone owns or controls or has options on. He probably has a plan in place for periodic liquidation of small portions of his holdings - after all - he is in his 80's (and has orange hair) and is about the relinquish operational control. Give it a rest.
Periodic liquidation of "1/3 of his shares"? Not wanting to bother the orange-haired one, who still does have operational control, but there really could be an issue here. If there is, spare the pity.
No, just another conspiracy theory.
the stock dump has nothing to do with the rather mess.
my broker advised me to get rid of some viacom stocks before the summer (and prior to mel karmazin being fired).
Wake up and do some math - he is worth perhaps $8B, the majority of which is Viacom stock holdings - what proportion is $12M out of $8B? - trivial (roughly .15%). Again - someone of that wealth, and in in that position may only be aware of generalized (and perhaps annual) plans to liquidate holdings or perhaps balance his portfolio. Any shareholder with his insider status and ownership % of all outstanding shares is required to register transactions. To call this dumping is flat out false.
I have no idea what his net worth is or how much of his holdings are specifically in Viacom. It is reasonable to presume it would be a whole lot higher than $36m so I'll trust your assertion of billions. You're right the math probably doesn't support the title of this thread (1/3 of his shares). While I didn't use the word dump, I did suggest that he may have sold with superior information. If so my knee jumps in favor of the SEC looking into it. If it's just perfunctory sale as you suggest, there'd be no story here.
Memogate evolves into Marthagate-II!
Not true....since they were cooking the forgeries weeks before....Martha Stewart....you have a visitor....
Right. Perception IS reality, TV-wise!
ping
(born Murray Rothstein)
Why the name change...does he hate his Jewish heritage?
I disagree...it would NOT be insider-trading...any maroon will know that CBS would tank..taking Viacom down a ways with it...this is more akin to Rats fleeing the sinking ship...but its public knowledge...
The Capt.
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