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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (42875)	8/9/1999 5:25:00 PM
From: pater tenebrarum	Respond to of 94695

in addition, the stock market is now more overvalued relative to interest rates than it was in '87. something has got to give and probably soon... hb

To: Haim R. Branisteanu who wrote (42875)	8/9/1999 6:24:00 PM
From: C.K. Houston	Read Replies (1) \| Respond to of 94695

Haim, Maybe Gerstner's gonna buy some of those bond strips you've been talking about. IBM's CEO Plans To Sell 400,000 Shares WASHINGTON (Reuters) - Louis Gerstner, the chief executive officer of International Business Machines Corp. (NYSE:IBM - news), plans to sell 400,000 common shares of the world's biggest computer maker, a regulatory filing Monday said. Gerstner, who is also IBM's chairman, acquired the shares, valued at $50 million, after exercising stock options, according to his filing with the Securities and Exchange Commission. Of the 400,000 shares he plans to sell, he sold 278,000 of them last Friday at $124.80 per share. The shares had an exercise, price of $11.97 per share, meaning Gerstner grossed about $31.3 million, an IBM spokesman said. Gerstner sold an additional 50,000 shares Monday at $124.04 per share. They too had an exercise price of $11.97 per share, for gross proceeds of about $5.6 million, the spokesman, Rob Wilson, said. IBM shares closed down 1-9/16 to 122-1/16 on the New York Stock Exchange. The chairman and CEO also sold a total of 185,000 shares in May for more than $43 million, his SEC filing showed. The May sales were not included in the 400,000 shares to be sold pursuant to today's filing. Gerstner, in his late 50s, is selling the shares ``as part of a regular program of tax planning and asset diversification which he began last year,' the IBM spokesman said. Gerstner's stake in IBM stands at about 8,005,000 shares, consisting of about 7.145 million shares under options and approximately 860,000 shares directly held, the IBM spokesman said. IBM currently has more than 1.8 billion shares outstanding. dailynews.yahoo.com Cheryl