Wednesday, 13 May 2009

GM says 2 top execs have dumped their stock

General Motors reported that two top executives sold all their shares in the automaker - further evidence that GM will likely file for bankruptcy. Vice Chairman Bob Lutz sold 81,360 GM shares and North America President Troy Clarke sold 21,380 shares, according to regulatory filings Monday. The sales were in a window when such transactions are allowed, following the company's quarterly earnings report Thursday. The period may be the last for executives before the government's June 1 deadline for GM to restructure or file for bankruptcy.
New Microsoft bonds

-- Microsoft sold $3.75 billion of debt in its first bond offering, taking advantage of its top credit ratings to help fund a share buyback and technology investments. With its shares down 34 percent in the past year, Microsoft is seizing on a credit-market rally to help fund a $40 billion stock repurchase program.
Windows 7 on way

-- Microsoft confirmed it will start selling the Windows 7 operating system by the year-end holiday season. After initial tests and feedback the company has received from partners, the software is "tracking well for holiday availability," Microsoft said Monday.
New antitrust focus

-- The Obama administration warned corporate America on Monday that the government will more aggressively investigate big companies that hurt smaller competitors, contending that lax enforcement by the Bush administration contributed to the current economic troubles. The Justice Department is abandoning legal guidelines established by George W. Bush's administration in September that critics complained made it difficult to pursue antitrust cases against big companies.

No comments:

Post a Comment

NY Times: Business Owners Hiring Mercenaries as Police Budgets Cut

In Oakland, Private Force May Be Hired for Security In a basement office that serves as a police headquarters and community center, Oakland ...