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Al Gore Sells $29.5 Million In Apple Stock (appleinsider.com)
An anonymous reader quotes a report from AppleInsider: A U.S. Securities and Exchange Commission filing on Friday reveals Apple board member Al Gore this week sold 215,437 shares of Apple stock (APPL) worth about $29.5 million. Gore's stock sale, which was accomplished in multiple trades ranging from $136.4 to $137.12 on Wednesday, nearly matches a $29.6 million purchase of Apple shares made in 2013. When Gore bought the stock batch more than four years ago, he exercised Apple's director stock option to acquire 59,000 shares at a price of about $7.48 per share, costing him approximately $441,000. This was pre-split AAPL, so shares were valued at $502.68 each. Following today's sale, Gore owns 230,137 shares of Apple stock worth $31.5 million at the end of trading on Friday.
In some cases it amounts to the appointed caretakers robbing the owners (shareholders). Sometimes the major shareholders are pension funds and large institutional investors and the like, being run by the same type of guys who do not mind awarding their pals such sums; it comes out of their clients' pockets so who cares. Sometimes they even sit on each other's Renumeration Boards (committees tasked with setting "fair" wages for C-levels and non-executive officers). I;ve seen one of those in action and it really amounted to one hand washing the other, to the point where even institutional investors put "overly generous exec renumeration" in their analysis of the company.
If construction was anything like programming, an incorrectly fitted lock would bring down the entire building...
Who could be better qualified to complain about the rich than one of them? If a poor person complains about the rich, they're just jealous.
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