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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (148128)	7/12/2002 11:49:36 AM
From: tejek	Read Replies (1) \| Respond to of 1572942

Ted - Bush filed his "intent to sell" paperwork and talked to the company's legal counsel and several other prominent people in the company about selling before he sold. He wasn't trying to hide the fact that he was going to sell. The notice that he actually had sold the shares was filed late but the intent to sell paperwork was filed and made public. There was no attempt to keep the whole thing secret. Of course, he was on the BOD plus a special committee to determine whether corporate restructuring would hurt the value of the shares. By law, he was required to do all those things.......so what? As for insider trading - 1 - The SEC found that most of the decisions and distribution of timely information about the company where made by the executive committee not the entire board. There is no evidence that Bush had the soon to be released info about greater then expected losses when he sold. First, you can't really believe that this company was so big that that kind of info was kept from being passed around? Secondly, he was on a committee to determine what could hurt share value....you don't think potential losses would not have been an issue important to this committee of two? 2 - Bush had a loan that he wanted to pay off and witnesses reported that he had talked about selling off the stock to pay off the loan. So what......he comes from a political family.....they understand the ramifications of certain actions. The fact that he went around talking about paying off a loan is even suspect. People in the public eye are not usually that open with their personal finances unless they are forced to be. 3 - At the time of the SEC investigation the stock was at a higher price then the price Bush got when he sold it. Again, so what.......you will take whatever price you can get if you know the company is about to experience an unprecedented loss. 4 - The SEC concluded that there was no evidence that would lead to the conclusion that Bush was guilty of insider trading. And his father as President had appointed the Director of the SEC. The fact that he was investigated at all in a time when the SEC was fairly quiet makes you wonder exactly how serious it was. Nonetheless, the whole thing could be as innocent as you describe above. However, what adds further fuel to the fire is the loan he got from this company, or another one in which he was involved.........and of course, the manner in which he rebuts the questions that come up re this issue and the inconsistency of his answers. ted