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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Thomas A Watson who wrote (218017)	1/14/2002 12:48:07 AM
From: Carl Shaw	Read Replies (1) \| Respond to of 769670

Tom, one might also conclude that he was bailing out as quickly as he could, without liquidating all his stock , as that might not go over well with the regulators or other shareholders. He exercised the options you refer to at approximately $21 per share, when the stock was worth $45 or more. The fact is that he was unable to sell it all before it fell below the price he paid . The SEC takes a dim view of insiders bailing out before the knowledge they have becomes public, but it has happened alot in the last two years. Mr Lay wouldn't be the first to try to get some cash before the shares tanked.That doesn't make it right. He bought NO shares at a market price, and the hundreds of sells of options doesn't indicate to me great faith in the long term prospects. As far as his paper loss, and it is substantial, I will agree, it wasn't in any sense an actual loss when compared with many shareholders who don't get the huge options that are prevalent in our corporations today.Many corporate execs get shares for pennies, and to say that they are a "loss" when they go from $100 back to $1 is a matter of interpretation. One could say they are still worth more than they paid for them , and are in fact in a position of gain. I wonder what his actual cash outlay was for those shares?? And for what it's worth, I couldn't give a rats ass about the politics of this that you are so sensitive about. I am just fed up with the corporate executives feathering their nests with inside info, and then running for the exits , upon which time they yell "Fire", and then ask us to believe they just sold as a matter of routine. They had NO IDEA that things were that bad in the company they were paid so well to run!!Legalized theft!!They should be in jail with the other thieves, who at least have the dignity to hold a gun to one , so he knows he is being robbed.