Word: insiderism
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No one, including himself, would argue that Bradley Birkenfeld, 44, is a saint. The former UBS private-banking executive hasn't hidden the fact that he once bought diamonds with illicit money in Europe and then spirited them to California stuffed in a toothpaste tube, all part of an effort...
A surge in insider selling at luxury homebuilder Toll Brothers Inc. in the past two weeks is raising red flags from jittery investors who nervously wonder if Toll and other homebuilding stocks may be overpriced and heading for a fall.
Still, many analysts believe the 2009 stock run-up among homebuilders has gotten ahead of the sector's pending recovery. "The stocks have gone too far, too fast," says Rob Stevenson, managing director at Fox-Pitt Cochran Caronia. Stevenson isn't surprised by the insider selling at Toll Brothers: "We...
Despite Toll's decision to sell off shares, he still holds 14.5 million shares in the company either directly or indirectly - about 9% of the shares outstanding. "So his interest in the company and alignment with shareholder interests is still extremely strong," says Talbott McGrath. However, she believes the insider...
Insider reasoning and concentration of power might make sense if the Fun Czar were both competent and, well, fun. Unfortunately, the position has gone lately to those who focused primarily on endearing themselves to University Hall staffers during the job hunt. All six of the previous Fun Czars have been...