HCA insiders sold stock before dive, as Frist did

[spanone]

I detect a pattern here. The DEMS should be all over this shit in Congress.

~snip~ Senate Majority Leader Bill Frist's move to sell his remaining shares of HCA Inc. stock in June came at the tail end of at least a three-month period in which many of the company's top executives were cashing in long-term stock options for millions of dollars in profits.

A review by The Tennessean of stock transactions by HCA insiders between April 1 and June 30 shows the group as a whole sold nearly 1.8 million shares of stock worth nearly $100 million over that period. The data come from Securities and Exchange Commission filings used by Wall Street analysts to track whether executives are accumulating or selling shares in their own companies. ~snip~

http://tennessean.com/apps/pbcs.dll/article?AID=/20050923/BUSINESS01/509230471

[Village Idiot]

1. "Move along now... nothing to see here... "

[spanone]

2. The name 'Martha Stewart' comes to mind. Frog march this bastard.

[stillcool]

3. article from May 6,

by Melissa Davis
<Just look at HCA Chairman Jack Bovender. On Feb. 2, with HCA's stock in an upswing on hopes for a recovery, Bovender sold 500,000 shares underlying options, clearing some $9 million. Other HCA insiders soon rushed to follow his lead with multimillion-dollar transactions of their own.>
<The same month that Bovender cashed in, two senior managers -- Treasurer David Anderson and Chief Investment Officer Noel Williams -- joined three vice presidents in executing or filing to do multimillion-dollar transactions.>
<"Historically, HCA insiders have been lucky in knowing when to sell," Young says. "Perhaps investors should be pondering if it is luck or a very keen understanding of the future.">
http://www.google.com/search?oi=stock&q=stocks:HCA&prev ...

[spanone]

5. I find that most multi-millionaires don't trade stocks based on 'luck'.

SEC should investigate this immediately.

[stillcool]

7. especially as a group....

taking Frist's account along with the actions of others is particularly enlightening.

[SpiralHawk]

4. Rank Hath its Privileges

"I do wish you little people would cease whining about the special insider treatment your superiors receive." - GW Bush and Republican Plutocracy

[indepat]

6. Suspect those who possibly sold HCA stock based insider knowledge

can be thankful no attempt will be made to make the Federal insider laws applicable to them.

[damntexdem]

8. But this isn't insider trading. That only happens ...

when it's a Democrat, like Martha Stewart.