Chief Innovation Officer Dumps $2 Million in D ouble D reary.
Good Evening, Bonsoir, Guten Abend, Buona Sera,
Readers, who would know more about the sorry state of DuPont affairs and looming contingent liabilities for failed "innovations"? Imprelis, Tell Us! Or possible write-offs for the highly questionable DuPont corn cob "gasoline"? Or the potentially dangerous toxic and flammable Kullman Koolant for car A/C, or HFO-1234yf? Why the name of DuPont's Chief Innovation Officer and Executive V. P. comes to mind..."Tom Swift" Connelly. And what is "Tom Swift" doing with his amazing portfolio machine?
Three days ago, Sept. 17, 2013, "Tom Swift" swiftly purges his portfolio of a cool $2 million of DD. He gets a good price, $59.90 on some 30,000 shares of this intractably troubled chemicals and second-rate seeds conglomerate based in the dwarf state of Delaware.
Frankly and personally, folks, we pay close attention to what the top executives of a corporation do with their sizable holdings of their employer's stock. In DuPont's case, insiders from the DuPont Chieftess on down are and have systematically bailed out. If we were to see big purchases of DD by DuPont senior executives in the open market (such as in the recent case of Freeport McMoran, FCX, where the Chairman and Vice Chairman ponied up $50 million to buy FCX in the open market), we would be shocked and take an intense fresh look. But the probability of heavy insider buying of DD is virtually ZERO. In the meantime, heavy executive selling goes on and on.
Merely, of course, the evening remarks and opinion of one individual investor with short and long positions in