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Technology Stocks : Orbital Engine (OE)
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To: John M Connolly who wrote (4526)10/17/2000 7:50:48 AM
From: Dr Mike  Read Replies (3) of 4908
 
Major controversy over this insider selling. Three possibilities come to mind:

1) Schlunke et al really do need the money for personal expenses, etc.

2) They believe that the current share price is as good as it will get in the near future.

3) They are completely tone deaf and clueless about how this will be viewed in the USA. Even if this is a totally acceptable and everyday occurrence in Australia, they should know and understand that the tail that wags the OE dog is the USA ADR owner. For them to exercise their options is smart, good, and commendable. For them to then turn around and sell them immediately tells the whole world that they believe that there is a better use of their funds than holding on to a few OE shares. They are acting like academic engineers, who feel that they have already achieved their goals by proving that their invention works. They are not acting like responsible corporate officers whose responsibility is to generate a profit for their employers (the shareholders). It is possible, and even likely that they are truly ignorant of the fact that insider selling is a published and closely followed item, and they may have the attitude that what they do with their money is not anyone else's business. In my opinion, that disqualifies them from running a publicly held company.

Of the 3 possibilities, only #1 is acceptable.
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