The insiders at BIG epitomize the self greed in corporate America and the Government today. They give themselves stock options that cost them nothing and as soon as possible they dump them on their unsuspecting share holders. These options were to give insiders a piece of the action and align their interests with the real owners of the company, shareholders.
They only care about themselves and not what's good for the total company or America. The American representatives in power are the same as their corporate insider friends in that they only care about themselves and not what's good for America. Their greed is destroying the American dream and creating American Greed. Vote them all out as well as the scoundrels running BIG as well as other companies. Start demanding that insiders wait no less then one year to sell their stock once they exercise their options.
This many be..... But why talk about news that happened 9 months ago.... This should be talked about then and not dwelt upon now. It should have NOTHING to do about to today's price on a stock that is valued at 8.5 PE... The only reason to talk about it now is to shake out weak hands....
First- this is an allegation, and a fairly flimsy one that is more like a "Simon Says" problem than a criminal one. It would be mighty white of you to wait until there is some actual proof of a criminal act being involved before you convict.
Next- there are a multitude of people who couldn't begin to do the job these guys do or understand the nature of running a business of this scale who feel perfectly qualified to sit in front of their computer and become an expert critic on something they know almost nothing about. Fact is, BIG has grown and thrived under Fishman's guidance, and savy stockholders have profited substantially.
While it's possible Fishman may have violated the spiderweb of rules that executives must follow when selling shares, it's now proving to be related to two things. One is the shareholder suit demanding revenge, thinking they lost money because he didn't tell them they might (typical of foolish amateur investors) and the fact that the investigations into possible insider violations is now widespread, covering even the biggies like Goldman-Sachs. It's looking more and more like a public witch hunt being played out to make it appear the SEC is being diligent. Wouldn't be the first time.
Any idiot who has studied BIG knows that the high will occur around the 4Q, then the earnings and stock price will both decline for the next three quarters. This is consistent history; the fact that the price would fall is hardly insider information- the only question was how much. Since that is determined by the emotional reactions of investors rather than by the company, Fishman had no way of knowing if or in what degree the public would react. I suspect that if he is found to be in violation, it will be a technical one rather than an intentional one. Why don't you wait and see?
Stop the crying. You would not be crying if you had bought at 11.00 when Fishman took over the company and made it profitable every quarter and not just the 4th qtr. And, ran the stock to 30.
Then, ran it back up from 15 to 42.00. Options are an incentive and if all they got was their base pay, they might not have tried so hard and settled for just okay...like so many of today's workers strive for.
So, go invest in a company that doesn't offer options, let me know which one(s) those are and I'll watch while you wait for the stock to move a few pennys.