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Bill Gates Fined $800,000 Over Stock Purchases
Bronz writes "CNN Money is reporting that Bill Gates has been fined $800,000 for violating antitrust waiting period for stock purchases. The department alleged that Gates bought more than $50 million worth of stock in ICOS Corp. through his personal investment trust and failed to notify antitrust officials about the purchase, as required." It's also clarified: "The technical incident has nothing to do with the government's massive antitrust battles with Microsoft."
From the article: "...$50 million in voting stock in ICOS (ICOS: Research, Estimates), a drug maker"
A drug maker? Not to bring the tin-foil hat approach to things, but seriously...what is Bill Gates interested in a drug making/researching company for? I'm a bit confused...is this related to Micro$oft? It would seem so from the mention of antitrust law, etc.
Is Micro$oft suddenly changing their business strategy to that of pharmaceuticals?!
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Boy, it is going to be tough to spin this one so it makes Bush look bad.
Your comment is a huge troll, you f**king idiot.
I don't see how that's a troll...this has nothing to do with tech news, its just the /. editors taking a swipe at MS.
slashdot, news for crazed liberal socialist zealots
Admittedly,
.02
I haven't read the article. But, while $800,000 seems like a collosal, life changing amount of money to me, that's peanuts to Gates. It is probably 1 week's income for the guy. And I would guess that his return on this acquisition is considerably greater than the $800,000 fine. So he essentially just buys his way around the law.
In this case, instead of fining the guy, I wish there was some way to simply take away the deal and make him go back to square one. I know this would be incredibly complicated given the way share prices move based on purchases like this, but $800,000 i suspect is hardly a deterrent to the guy. It's not even a speedbump in his book.
just my
jeff
When the fuck's it going to be enough for you? You're like a fat fuck at an all you can eat Pizza buffet!!! Fuck'n save some for the rest of us you moron!!!
||| I still can't believe Parkay's not butter.
Bill Gates fined for violating antitrust laws when he's involved with so many companies?! Wow! I can't wait till Slashdot reports that he was fined for driving at 35mph in some school zone. That'll be the clincher to convince me this man is evil!
This is probably something that's merely an oversight on behalf of his broker.
But of course. A man of limited means such as Gates probably can't afford a broker that is capable of performing legally-required, due-dilligence.
So Microsoft produces malaria and AIDS? Oh... wait... you spoke without any real knowledge of the Foundation. In addition to donating Microsoft products, the Gates Foundation provides medical aid throughout the world to needy people.
Get off your high fucking horse. Gates is not Satan. Linus is not god. You are, however, a complete and utter tool.
Low inheritance taxes preserves an effective nobility and leisure class that will use an accident of birth to make a living as a shareholder. Arguably the builders of wealth should obtain such benefits - not their progeny. Descendents should be provided equal opportunity to compete based on their own merits and talents.
I can't believe I just read this. So the government gets to decide what YOUR family can and cannot pass along to you? I find the mere notion of that offensive. Low death taxes may well result in some folks enjoying the fruits of someone else's labor (their fathers for example), but the idea that the government should level the playing field with some sort of tax is socialistic at best and downright theivery at worst. Should Uncle Sam take material possessions too, comrade? After all, they could be liquidated and the money from them could put someone ahead!! The horror.
"The problem with internet quotations is that many are not genuine" -Abraham Lincoln