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Discussion Starter · #1 ·
Faces In The News
Wagoner's GM Freezes Insider Trades Indefinitely
Greg Levine, 06.27.05, 11:44 AM ET

NEW YORK - Doers and doings in business, entertainment and technology:
Richard "Rick" Wagoner Jr.
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Know-nothings need apply. General Motors (nyse: GM - news - people ) has banned the majority of upper-ranking executives and other employees with access to internal financial data from buying or selling the firm's shares. According to The Detroit News, the world's No. 1 automaker has also moved to control the disclosure of such info. Why? According to the report, it's to keep GM insiders from inadvertently conducting illegal insider trading, founded upon financial knowledge not publicly available. "[Trading is] more restricted than usual due to the fact that we are no longer providing earnings guidance," GM spokeswoman Tony Simonetti told the newssheet. She said the trading restriction is "really intended for any employee at any level that has access to internal material data, like earnings forecasts," as the News was quoted by The Associated Press. Led by Chief Executive Richard "Rick" Wagoner Jr., the Motor City company in April said it would suspend profit guidance for analysts, citing "the uncertainty affecting key elements of our financial forecast, such as resolution of the health care cost crisis." ________________________________________




3-Nov-03 WAGONER, G.RICHARD JR
Chairman 2,453 Direct Disposition (Non Open Market) at $0 per share.


23-Jan-04 WAGONER, G.RICHARD JR
Chairman 61,438 Direct Acquisition (Non Open Market) at $0 per share. N/A

23-Jan-04 WAGONER, G.RICHARD JR
Chairman 24,840 Direct Disposition (Non Open Market) at $53.92 per share. $1,339,372
27-Oct-04 WAGONER, G.RICHARD JR
Chairman 1,101 IndirectAcquisition (Non Open Market) at $38.08 per share. $41,926

21-Mar-05 WAGONER, G.RICHARD JR
Chairman 50,000 Direct Purchase at $29.57 - $29.65 per share. $1,481,0002



4-Sep-04 LUTZ, ROBERT A.
Vice Chairman 12,020 Direct Disposition (Non Open Market) at $42.52 per share. $511,090

1-Sep-03 LUTZ, ROBERT A.
Vice Chairman 30,353 Direct Disposition (Non Open Market) at $0 per share. N/A

For more info on employee stock holdings see:

http://finance.yahoo.com/q/it?s=gm
 

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Premium Member
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Discussion Starter · #3 · (Edited)
This too:
A number of Japanese corporations, Sony, TDK, Mitsubishi and KonicaMinolta have recently (within the month) passed resolutions regarding stock acquisition rights for their directors and corporate officers to provide retirement compensation-type stock option plans.
 
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