Ellison Dumps Oracle Shares
It's been said that yacht racing is the most expensive sport in the world. If
you have to ask how much it costs, you can't afford it. Sounds like it might
be out of my league.
Larry Ellison, however, has no problem keeping his America's Cup racing yacht
afloat. It must need a new coat of paint though, because the pugnacious Captain
Ellison just sold
2 million shares of Oracle stock.
I'm just guessing on what Ellison plans to do with the loot, of course, but
consider this: He sold each of those 2 million shares for slightly more than
$22 a pop. It's good to be Larry.
This was actually a prearranged sale called a 10b5-1 Trading Plan, according
to SEC filings. These permit company insiders to establish transactions in advance
and continue with them even if the seller learns some critical inside scoop.
They have to file a Form 4 with the SEC to report the transaction within two
business days.
Do you think this is just some small-change accounting for Captain Ellison?
Do you think it's a sign of trouble at Oracle? Send your opinions and any good
stock tips you might have to me at [email protected].
Posted by Lafe Low on October 17, 2007 at 11:57 AM