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2004-09-19 Home Front: Politix
Smell of Fear: Viacom CEO sells off $12M in Shares Post RatherGate
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Posted by Frank G 2004-09-19 16:24|| || Front Page|| [11136 views since 2007-05-07]  Top

#1 "Yes, please, I would like the SEC to crawl all the way up my ass."
Posted by Matt 2004-09-19 6:48:38 PM||   2004-09-19 6:48:38 PM|| Front Page Top

#2 Lol, Matt! That's a, um, "rather" unique take on the situation, lol! And I love succint phrasing! *bravo*
Posted by .com 2004-09-19 6:53:38 PM||   2004-09-19 6:53:38 PM|| Front Page Top

#3 The only thing I can imagine is that the timing of the sale coincided with the expiration of some options. Otherwise, this is a jaw-dropper.
Posted by Matt 2004-09-19 6:57:11 PM||   2004-09-19 6:57:11 PM|| Front Page Top

#4 Another Martha Stewart case of incredible (Choose one: Good / Bad / Shoot Yourself) timing?
Posted by .com 2004-09-19 6:59:28 PM||   2004-09-19 6:59:28 PM|| Front Page Top

#5 I wouldn't get too excited about this. Redstone's worth about $10B. $12M represents 0.1% of his wealth. From al Beeb:

US RICH LIST
Bill Gates: $46bn
Warren Buffett: $36bn
Paul Allen: $22bn
Walton heirs: $20.5bn each
Larry Ellison: $18bn
Michael Dell: $13bn
Steve Ballmer: $12.2bn
Cox heirs: $11bn each
John Kluge: $10.5bn
Mars heirs: $10.4bn each
Sumner Redstone: $9.7bn source: Forbes
Posted by Zhang Fei  2004-09-19 8:05:55 PM|| [http://timurileng.blogspot.com]  2004-09-19 8:05:55 PM|| Front Page Top

#6 ZF, thanks for the info, but I would suggest to you that the "I'm so rich that $12 million is nothing to me" defense doesn't play all that well with juries, or in the court of public opinion..
Posted by Matt 2004-09-19 8:32:17 PM||   2004-09-19 8:32:17 PM|| Front Page Top

#7 Martha went away for 5 mos for $100K max. Being massively rich doesn't stop them from playing tips hunches on losers
Posted by Frank G  2004-09-19 8:56:57 PM||   2004-09-19 8:56:57 PM|| Front Page Top

#8 Matt,I read elsewhere the options expired in 2006/7.He still holds a bunch more options.
Posted by Stephen 2004-09-19 9:25:33 PM||   2004-09-19 9:25:33 PM|| Front Page Top

#9 Much different from the Martha Stewart case. Hers was based on inside information. I'm sure the head of the parent of CBS has absolutely no inside information about a scandal in a major subsidiary that could potentially put that subsidiary at serious financial risk. Nope, no CEO would spend any time keeping track of something like that. Couldn't happen. Impossible. Not a chance. Obviously, lies from right-wing blog sites. Yes, yes, lies and fabrications. Completely unbelievable. Trust me, I know.

P.S. If Dan gets fired, I'd like his job. I have much experience working with the media.
Posted by Muhammed Saeed al-Sahaf 2004-09-19 10:01:19 PM||   2004-09-19 10:01:19 PM|| Front Page Top

#10 Professor Bainbridge (link via Instapundit) suggests there must be an innocent explanation, as does Instapundit.
Posted by Matt 2004-09-19 11:49:33 PM||   2004-09-19 11:49:33 PM|| Front Page Top

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