Yeah, and I well remember his CNBC interview...
It was shortly after he sold all those shares, and he was "pooh-poohing" the interviewer (can't remember which one), and responded to the questioner's concern about his dumping so many of his own company's shares, with something like,
"Oh, that's no big deal at all. It's only about 1 or 2% of my net worth." Well...
Based on the price of INSP today, his current approximately 62 million "remaining" shares (at a today's closing price today or $2.47/share), means those shares he sold back in 1999 and 2000, which IMO he "pumped" ("World's first trillion dollar company") and then "dumped" (based on what has happened to INSP since then), now means he "really" dumped about 60% of what today is the "current" total value of his shares. And he made himself into one of the wealthiest people in the country in the process, out of the pockets of his own shareholders. Just swell.
It sure adds to the "confidence" of investors, analysts, and Wall Street, huh? Perhaps the "previous" company management personnel may have finally figured it all out, and perhaps they figured out a few other things going on "inside" the company as well...who knows? I just can't understand why the BOD and a major shareholder like Paul Allen can't figure it out, and try to do something about it.
Although, if you research the "selling" record of many other previous INSP "insiders" (including many on the BOD) over the past few years...maybe many of the "insiders" did figure it all out, and just didn't let the rest of us know what they thought was really going on. I don't know.
IMO, it was just the poor "long-term" shareholders who were left holding the bag, while many "insiders got "filthy" rich off the money millions of innocent shareholders invested in them, and their company's "vision thing."
And then of course, there were the many "pumping" ANALysts. Which one was it who "projected" that the INSP share price should be around $350/share by now?
Geesh, there ought to be a law...
I just can't do this anymore. Just can't seem to find any positive "news" of REAL significance regarding this company, or its "current" management. "Maybe" I'm just missing something...Oh, No...I KNOW I'm "definitely" missing something...my hard-earned money!
Bye.
Roger |
