Word: unloadings
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ImClone general counsel John Landes initiated the sales binge on Dec. 6, when he instructed his broker to unload $2.5 million worth of company stock, according to sell orders drafted by Merrill Lynch. Five days later, Ronald Martell, vice president for marketing, had Merrill Lynch sell $2.1 million worth of his company stock. Four other executives--including two vice presidents--cashed in an undetermined number of their shares between Dec. 12 and Dec. 21, when the company imposed a blackout on employee stock trading...
...ImClone general counsel John Landes initiated the sales binge on Dec. 6, when he instructed his broker to unload $2.5 million worth of company stock, according to sell orders drafted by Merrill Lynch. Five days later, Ronald Martell, vice president for marketing, had Merrill Lynch sell $2.1 million worth of his company stock. Four other executives--including two vice presidents--cashed in an undetermined number of their shares between Dec. 12 and Dec. 21, when the company imposed a blackout on employee stock trading...
...blow up, I called my most trusted sources among money managers to ask how an individual investor can avoid buying such a bomb. The most common answer I got startled even an old cynic like me: We can't talk right now; we're too busy trying to unload our WorldCom shares. So don't feel foolish if you have been whacked. A lot of "smart money" has too. And there's plenty you can do to minimize your odds of owning the next disaster. Here...
...took place. Meldrum is being prosecuted under stringent media laws designed to curb government criticism. ARRESTED. SAMUEL WAKSAL, 54, former CEO of ImClone Systems, the biotech company behind the experimental cancer drug Erbitux, on charges of illegal insider trading; in New York City. Waksal is accused of trying to unload his shares and telling two shareholders to sell their stock the day before the U.S. Food and Drug Administration announced it was rejecting ImClone's application for the approval of Erbitux. Waksal's close friend, American domestic guru Martha Stewart, sold her shares in the company just before the announcement...
Thoroughbred trainer Bob Baffert, whose horses won the Kentucky Derby in 1997 and '98, didn't have a steed good enough to enter this year's Run for the Roses. Neither did Russell Reineman, a Chicago businessman and stable owner who had been trying to unload a Derby hopeless called War Emblem--a 3-year-old with a small chip in each ankle and a big chip on his shoulder. "He's a mean-spirited horse," notes Baffert...