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Al Gore Nets Another Fortune on Apple Stock [Buys 60,000 Shares Valued @ $7.48/Share!]
Yahoo News ^ | January 18, 2013 | Javier E. David

Posted on 01/18/2013 9:01:18 PM PST by Steelfish

Al Gore Nets Another Fortune on Apple Stock By Javier E. David Former U.S. vice president Al Gore recently netted a huge payday by selling his cable station. Now, it appears he's making another big profit buying Apple's (AAPL) stock on the cheap.

Al Gore According to a filing with the Securities and Exchanges Commission, Gore -- a director on Apple's board -- exercised an option to purchase nearly 60,000 shares of the tech giant at the bargain basement price of $7.48, costing him a total of about $445,000.

But with Apple's current market price at about $500 a share, Gore's holdings are worth $29.75 million, giving him a huge windfall-on paper at least. Gore, however, could easily afford to buy Apple's stock at the prevailing market price.

In early January, the environmental crusader sold his Current TV venture to Qatar-based news organization Al Jazeera for $500 million. Published reports say the sale of Gore's 20 percent stake in the network - worth an estimated $100 million - would bring his net worth to about $300 million

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: algore; apple; burnedrecords; crazedsexpoodle; manbearpig; milliondollarmarxist; onepercent; pmrc
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1 posted on 01/18/2013 9:01:28 PM PST by Steelfish
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To: Steelfish

Andrew Wilkow: “Socialism is for the people, not the Socialist.”


2 posted on 01/18/2013 9:05:55 PM PST by DTogo (High time to bring back The Sons of Liberty !!)
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To: Steelfish

The Marxist will be wanting to confiscate all that wealth and spread it around. It’s for the children.


3 posted on 01/18/2013 9:08:28 PM PST by Jim Robinson (Resistance to tyrants is obedience to God!!)
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To: Jim Robinson
For the stock market ignorant among us, how is Gore able to do this?

Yes, if I wanted 60K shares of Apple it would cost quite a bit more than $8 per share.

What am I missing? Apple hasn't been under $8 for at least 2 decades.

4 posted on 01/18/2013 9:13:03 PM PST by boop ("You don't look so bad, here's another")
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To: Jim Robinson

Chump change for algore. Apple stock was over $200.oo a share higher a couple of months ago.


5 posted on 01/18/2013 9:18:56 PM PST by onyx (FREE REPUBLIC IS HERE TO STAY! DONATE MONTHLY! IF YOU WANT ON SARAH PALIN''S PING LIST, LET ME KNOW)
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To: boop

It’s called stock options. At some point he must have been granted/given/paid in stock options - that is, the option to purchase stocks at a particular price.

So he sat on it until now - apparently Gore is trying to raise money and/or knows something that the general public/markets don’t know (insider trading?).


6 posted on 01/18/2013 9:21:37 PM PST by TheBattman (Isn't the lesser evil... still evil?)
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To: Steelfish

Another reason why I will never buy an Apple product.


7 posted on 01/18/2013 9:22:10 PM PST by Fresh Wind (The last remnants of the Old Republic have been swept away.)
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To: boop
For the stock market ignorant among us, how is Gore able to do this?

"Al Gore . . . exercised an option to purchase nearly 60,000 shares of the tech giant at the bargain basement price of $7.48, costing him a total of about $445,000."

8 posted on 01/18/2013 9:22:33 PM PST by FoxInSocks ("Hope is not a course of action." -- M. O'Neal, USMC)
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To: boop
For the stock market ignorant among us, how is Gore able to do this?

He probably bought leaps a few years ago.

Anybody can do it, you just have to guess right.

A leap is a long term option.

An option is where you purchase the right to buy a stock for a certain price for a certain amount of time, usually in 6 month increments.

You are buying time and value.

9 posted on 01/18/2013 9:23:13 PM PST by Mogger (Independence, better fuel economy and performance with American made synthetic oil.)
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To: onyx

FYI Gore is richer than Romney


10 posted on 01/18/2013 9:23:13 PM PST by al baby (Hi Mom)
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To: boop

Apple was in the single digits around 2006. He probably was given options when he joined the board.


11 posted on 01/18/2013 9:24:18 PM PST by guyfromjrz (fresh breath, it speaks for itself.)
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To: Steelfish

Good for him! Steve Jobs did the same thing. That’s how it works at that level.


12 posted on 01/18/2013 9:24:28 PM PST by liege
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To: al baby

Yes, I know and neither will ever be president...LOL.


13 posted on 01/18/2013 9:27:20 PM PST by onyx (FREE REPUBLIC IS HERE TO STAY! DONATE MONTHLY! IF YOU WANT ON SARAH PALIN''S PING LIST, LET ME KNOW)
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To: boop

It was apparently in AG’s contract. But I cannot imagine how this hypocrite added 29 million in value. I am not so sure Apple is now a well run company, especially after reading this.


14 posted on 01/18/2013 9:28:30 PM PST by The_Media_never_lie (Actually, they lie when it suits them! The crooked MS media must be defeated any way it can be done!)
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To: liege

At least Steve Jobs had something to do with Apple’s success. What has iGore contributed (other than inventing the Internet)?


15 posted on 01/18/2013 9:30:00 PM PST by Fresh Wind (The last remnants of the Old Republic have been swept away.)
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To: Steelfish

Al Gore got a seat on Apple’s Board of Directors for his ability to open up doors in D.C. Don’t blame him, blame the corrupt political system.


16 posted on 01/18/2013 9:33:36 PM PST by Revolting cat! (Bad things are wrong! Ice cream is delicious!)
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To: Revolting cat!
Al Gore got a seat on Apple’s Board of Directors for his ability to open up doors in D.C.

Or more likely, protection.

Spit.

17 posted on 01/18/2013 9:37:39 PM PST by St_Thomas_Aquinas
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To: Steelfish

A fat lot of good that money’s gonna do him. He’s still going to have to wake up tomorrow morning, look in the mirror, and see Al Gore starin’ back! :O


18 posted on 01/18/2013 9:39:10 PM PST by The Duke
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To: Jim Robinson
Boy, eye is shure gladd that Democrats like Gore iz poor like the 99% and not wun of thoze riche guyz like Romney.

How fortunate that the country didn't elect a successful businessman but rather a Marxist clown that wants to seize the guns like Bloomberg, who is also a Food Nazi.


19 posted on 01/18/2013 9:39:44 PM PST by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: Revolting cat!
Don’t blame him, blame the corrupt political system.

Gore is a big part of the corrupt political system. He deserves some of the blame.

20 posted on 01/18/2013 9:42:13 PM PST by Fresh Wind (The last remnants of the Old Republic have been swept away.)
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To: Fresh Wind

From what I understand, the board must grant the options, one can’t just procure them on their own. The board thought it was worth it, for whatever reason.


21 posted on 01/18/2013 9:45:15 PM PST by liege
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To: boop

If you had accumulated options to purchase Apple stock at a particular price, you could hold on to those options for years ( or even decades). If he had exercised those options in September when the stock peaked, he would have made an additional $6,000,000 and would have been able to keep more of it because of the Bush tax rates on capital gains (15% vs. the 20.0% Obama rate).


22 posted on 01/18/2013 9:49:05 PM PST by reg45 (Barack 0bama: Implementing class warfare by having no class.)
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To: liege

You can purchase options on the options exchange.


23 posted on 01/18/2013 9:51:40 PM PST by reg45 (Barack 0bama: Implementing class warfare by having no class.)
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To: Steelfish

Another rich socialist, Democrat! Al Bore’s motto is: “Do as I say, not as I do peasants! Now, I want my happy ending, I get one with every massage or I will let the Earth burn to a crisp!”


24 posted on 01/18/2013 9:53:08 PM PST by IslamE (epiphany)
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To: TheBattman
So he sat on it until now - apparently Gore is trying to raise money and/or knows something that the general public/markets don’t know (insider trading?).

Everyone knows, Apple is going down bigtime. He is excercising his options to get out.

25 posted on 01/18/2013 9:57:36 PM PST by Vince Ferrer
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To: reg45

Big difference-iGore didn’t purchase the options.

They were a political payoff to him, no doubt in part because of his advocacy of the Global Warming® scam, which the other liberals at Apple, including Steve Jobs, had swallowed whole.


26 posted on 01/18/2013 9:58:51 PM PST by Fresh Wind (The last remnants of the Old Republic have been swept away.)
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To: Steelfish
Al needs the cash, those lektricity bills are killing him!


27 posted on 01/18/2013 10:00:01 PM PST by Revolting cat! (Bad things are wrong! Ice cream is delicious!)
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To: St_Thomas_Aquinas

Yup. The DC Corruption Racket, Inc.


28 posted on 01/18/2013 10:00:36 PM PST by Jim Robinson (Resistance to tyrants is obedience to God!!)
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To: Steelfish

Tax the bejudas out of him..........


29 posted on 01/18/2013 10:00:57 PM PST by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
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To: St_Thomas_Aquinas

Seems to me awhile back that Apple was big in public schools.


30 posted on 01/18/2013 10:02:13 PM PST by Jim Robinson (Resistance to tyrants is obedience to God!!)
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To: Vince Ferrer
He is excercising his options to get out.

Maybe he's cashing in because he knows he's getting booted off the board, now that his protector has passed away.

31 posted on 01/18/2013 10:02:26 PM PST by Fresh Wind (The last remnants of the Old Republic have been swept away.)
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To: Revolting cat!

That looks like G L O B A L W A R M I N G!!!


32 posted on 01/18/2013 10:07:48 PM PST by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: Steelfish
Big AlGore seems to be in the *taking the money and running* or *cashing in his chips* mode right now.

Interesting I'm saying, that's all, just interesting.

33 posted on 01/18/2013 10:09:40 PM PST by The Cajun (Sarah Palin, Mark Levin......Nuff said.)
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To: Jim Robinson
School that spent £500,000 giving its pupils iPads admits that HALF are now broken
34 posted on 01/18/2013 10:09:57 PM PST by Fresh Wind (The last remnants of the Old Republic have been swept away.)
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To: Steelfish; a fool in paradise

Al says: “Being a POTUS is for suckers, I’ve got more moolah and better hookers than those Clinton parvenues!”


35 posted on 01/18/2013 10:10:22 PM PST by Revolting cat! (Bad things are wrong! Ice cream is delicious!)
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To: Steelfish

Algore, the great capitalist, alpha male, and sex poodle.


36 posted on 01/18/2013 10:12:26 PM PST by bigbob
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To: The Cajun

“Big AlGore seems to be in the *taking the money and running* or *cashing in his chips* mode right now.”

Well, Obama IS in office .......


37 posted on 01/18/2013 10:18:07 PM PST by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: boop

Options. He was given/awarded/paid 60K shares for his directorship at a price of $8 that probably fully vested recently or were about to expire.


38 posted on 01/18/2013 10:18:37 PM PST by Axenolith (Government blows, and that which governs least, blows least...)
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To: Steelfish; a fool in paradise

Al to FReepers: “Hey, get off my case, I didn’t have to kill Vince Foster to get here, and my kids are my own, not Webb Hubbell’s!”


39 posted on 01/18/2013 10:19:47 PM PST by Revolting cat! (Bad things are wrong! Ice cream is delicious!)
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To: F15Eagle
Just wondering why now, because the taxes should pound the hell out of him, just find it odd.
There has to be some angle we ain't seeing, unless he sees he might have to migrate out of the country, migrate out of dollars, etc.
40 posted on 01/18/2013 10:31:31 PM PST by The Cajun (Sarah Palin, Mark Levin......Nuff said.)
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To: Steelfish

One can make a good living as a climate huckster these days ...whoddathunkit?


41 posted on 01/18/2013 10:33:16 PM PST by Baynative (Those that work for a living are now outnumbered by those that vote for a living.)
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To: The Cajun

Gore knows the global economy is gonna collapse because America will collapse under Bammy.

He’s got to get his financial house prepared for that.


42 posted on 01/18/2013 10:34:45 PM PST by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: boop

It’s a pay off. Ought to be illegal.


43 posted on 01/18/2013 10:51:38 PM PST by Fledermaus (The Republic is Dead: Collapse the system. Fire all politicians and impeach the judges.)
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To: TheBattman

Maybe he thinks the economy will bust.


44 posted on 01/18/2013 11:10:50 PM PST by HiTech RedNeck (How long before all this "fairness" kills everybody, even the poor it was supposed to help???)
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To: Steelfish

he invented the internet


45 posted on 01/18/2013 11:15:47 PM PST by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: boop

Likely, he was on their board at some point back right after he was VP and on the take. They gave him options to buy stock at that price as payola..


46 posted on 01/19/2013 1:58:00 AM PST by Gaffer
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To: Steelfish

Now he’ll be able to make get started on that 100,000 s.f. addition to his garage.


47 posted on 01/19/2013 3:18:40 AM PST by Right Wing Assault (Dick Obama is more inexperienced now than he was before he was elected.)
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To: HiTech RedNeck

Considering that this is a conservative website, the number of folks going around bellowing socialist the socialist point of view on this thread is staggering.

Gore obviously has been holding some options for decades and finally exercised them. What is there about this that makes it newsworthy? He didn’t add a dime to his net worth - the options were valuable before he exercised them. He didn’t do anything illegal or stupid (this time).

There has been a lot of talk lately about “low-information” voters. On this thread we have seen a lot of “low information” posters. I hope our conservative voting is not as “low information” as some of the stuff I have been reading here.


48 posted on 01/19/2013 3:34:40 AM PST by John Valentine (Deep in the Heart of Texas)
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To: TheBattman

“...apparently Gore is trying to raise money and/or knows something that the general public/markets don’t know (insider trading?).”

From a financial perspective and as an ‘insider’, it only makes sense to exercise options like this if you know the stock is about to take a pounding and you expect the ultimate settling price of the stock to be BELOW the option price.

If you expect the stock to rise, you’d more likely leave the option dormant, as there is no reason to exercise, unless there is some major tax implication. Since he didn’t do this prior to January 1st, it’s not likely a tax concern.

Some options are granted with expiration dates. That may be a contributing factor.

It used to be that options grants to directors were reported to the SEC in regular filings. Might be worth taking a look to see what information is filed, relative to Apple stock option grants to directors. That might shed some light on this.

On the other hand, though he is a hypocrite of the first order, it’s not wrong to give him a hat tip and a “Good on ‘ys” for making out like a fat rat at the banquet of the wealthy. With the same breath, though, it’s required to tell him to go away and leave the rest of us alone.


49 posted on 01/19/2013 4:13:50 AM PST by PubliusMM (RKBA; a matter of fact, not opinion. 01-20-2013: Still seeking change.)
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To: Steelfish
In early January, the environmental crusader sold

Isn't this a lie? Wasn't the whole point it was late December? So that he could avoid Obama's tax increases?

50 posted on 01/19/2013 4:15:46 AM PST by gusopol3
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