I've no problem with what Uncle Larry did. Sure he made a pile of money, isn't
that what we're all about? What in this mess bothers me is that some folks,
like those at Enron, WorldCom, and Tyco, knew their stock was headed for the
crapper on a permanent basis due to the kitchen treatment the books got. At
least Uncle Larry did not cook the books to get the stock price to tumble and it
has recovered before & I'm sure will again if anyone ever gets confidence in the
stock market back to normal that is. Now I know this last piece is way off
topic, but I really do not appreciate the idiots that make the bulk of the stock
market decisions. When your car is not performing well you take it to a
qualified mechanic to find out what is wrong. But the dummies in the market go
looking for a 'analyst' at an investment bank to explain why their stocks are
not performing, instead of asking the folks at the company. Nothing like asking
a witch doctor how to handle your money!!
Dick Goulet
PS: I've an old classmate who is one of those analysts. I would not trust that
guy to watch my dog for the weekend, never mind my life savings!
____________________Reply Separator____________________
Author: "Eric D. Pierce" <[EMAIL PROTECTED]>
Date: 7/15/2002 9:43 AM
Tim,
It is my understanding that Oracle's stocks have gone
up and down wildly several times.
As you say, the only time I've heard that Larry
Ellison cashed out before a plunge happened was the
recent one that McCain brought up.
I'm afraid I fail to see what you think people should
conclude from all that.
Are you saying that it is ok for stock holding workers
and investors to get gigantically screwed just because
Larry Ellison has only done it once?
regards,
ep
On 15 Jul 2002 at 4:53, Tim Gorman wrote:
Date sent: Mon, 15 Jul 2002 04:53:21 -0800
Corporate Responsibility / Re: OT -
unix
To: Multiple recipients of list ORACLE-L
<[EMAIL PROTECTED]>
> My understanding is that this was the very first time Ellison had ever sold
> Oracle stock, in over 25 years of the company's existence, in 2000, which is
> the occasion that McCain (and you) are referring to. As you might be aware,
> there was a far greater "opportunity" for Ellison to "cash out" and leave
> Oracle dangling in 1990, when the price dropped from around $20 to $6 almost
> overnight after some financial-earning restatements. On that occasion, he
> would certainly have had prior knowledge of what was going to happen, to put
> it mildly. In 2000, any foreknowledge of a long-term downturn (26 months
> and counting?) would have been worth far more than $700m, especially to
> someone holding several billions in equities...
>
> ----- Original Message -----
> To: "Multiple recipients of list ORACLE-L" <[EMAIL PROTECTED]>
> Sent: Sunday, July 14, 2002 10:13 PM
> unix
>
>
> > Speaking of herds, or at least what is left behind on
> > the ground after they pass:
> >
> > on "Meet the Press" (TV program), Senator John McCain
> > said that Larry Ellison cashed out $700,000,000 of his
> > Oracle stocks just before they lost most of their
> > value (sarcasm: I'm sure he is planning on plowing it
> > back into the company, especially improving quality in
> > OWS and Metalink).
...
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