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Strategies & Market Trends : The New Economy and its Winners

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To: stockman_scott who wrote (30111)	8/19/2006 1:55:22 PM
From: Lizzie Tudor	Read Replies (3) of 57684

here's a somewhat negative piece on all the Google insider selling (which was preplanned over 18 mos so the authors concern about the amt $$ of the sale relative to G's IPO price is a big offbase, also Brin and Page have STOPPED selling)- but anyway it talks about the Tesla car investment which just goes to show you why these tech center hubs tend to build on themselves even in different industries. There is more than just this tesla car company out here, other car companies and battery companies but this one gets all the press. Google's Own Executives Rate the Shares `Sell': Mark Gilbert Aug. 18 (Bloomberg) -- Wondering why your investment in Google Inc. has lost 18 percent of its value since the shares peaked at about $475 in January? Relentless stock sales by the Internet search company's executives might be to blame. Since Feb. 14, 2005, the expiration date of the biggest and final restriction on insider sales following Google's initial public offering, managers have dumped a truckload of stock. As of Aug. 9, they had sold almost 23 million shares. That means Google's top executives have offloaded about $7.4 billion of stock, equal to about a third of the company's starting market value when it sold shares at $85 each in the August 2004 IPO. Tesla Boys The seemingly exciting news that the Googlers were shelling out for a 150-seater corporate plane was undermined by its unmasking as a clunker with more than a decade of service for Australia's Qantas Airways Ltd. The best the Wall Street Journal could come up with was an argument between Page and Brin over bed sizes, and a request for hammocks hung from the ceiling of the plane. The raciest splurge the Internet wizards have made with their money is an investment in San Carlos, California-based Tesla Motors Inc. Tesla is designing a $100,000 sports car powered by electric batteries with a claimed performance of zero to 60 miles per hour in 4 seconds and a 250-mile range between recharges. bloomberg.com

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