The Journal fronts a long feature on stock-option grants to corporate executives that repeatedly fall on days when the company's stock price is at a low point. Soon after the options are granted, the stock takes off. The paper describes repeated examples of this phenomenon. This exerpt is representative: "In eight of [CEO Louis] Tomasetta's nine option grants from 1994 to 2001, the grants were dated just before double-digit price surges in the next 20 trading days. The odds of such a pattern occurring by chance are about one in 26 billion."
Saturday, March 18, 2006
this is how they cheat the system
and congress would be well within it's recourse to dissolve all attributes that make this possible. from today's papers:
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