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Waste Connections Inc. Message Board

  • faulkin2001 faulkin2001 Jan 22, 2002 3:16 PM Flag

    Insiders

    Why is it every time we turn around our beloved CEO is selling shares. I realize a bunch of you corp. lackey's will jump on this board and defend his every move,but it is getting a little old. I'm sure he needs a couple of million for "tax purposes" but that is only so because of the 10+ million he has cashed out in the last 12-15 months. This company is not large enough or profitable enough to justify this. Or is this like any other dead posting area...nobody gives a hoot and the only people that post to it are insiders. How about some reasonable discussion here.

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    • Insiders may sell shares to diversify their portfolios or they may be selling their holdings to pay taxes, especially if most of their compensation is in the form of stock and they need the cash, as the government does not accept shares of stock as payment. So an insider sell is not as strong a warning that the price may go down as an insider buy is an indication that the price may go up. There are reasons for selling shares besides downward pressure on the stock price.

    • One of the negatives of the development of the internet is that it has allowed ignorant dumbshits like you who have nothing more than access to a financial feed like Yahoo or Thompson Financial, to express your views to a broad audience purporting to comment on "facts". If in fact your IQ was as high as your age, you wouldn't make sweeping generalizations demonstrating your ignorance. If you understood insider trading rules governing public companies, or if you understood the blackout period adopted by the company(Dec. 10-Mar 1) for this quarter, or if you stayed somewhat current with any of the industry analyst weekly updates on the public companies, then you would understand the "FACTS" that the CEO or any other insider could not have sold even if they wanted to in Dec. or Jan, but in "FACT" the wire service made an error in falsely reporting such transactions. But I know you knew this based on the depth of your comments. Highly intelligent comments like, "This company is not large enough or profitable enough to support this", refering to CEO stock sales. Again, it is evident you understand this, but for the benefit of others not as educated as you, CEO or any other insider stock sales doesn't cost the company anything!! The proceeds of the sales are paid by the market. In fact, if the insider sold options, the company actually is the benefactor because it recieves cash from the sale for the exercise price. In reality, the CEO and most of the rest of Senior management have substantially helped the company and its shareholders by accepting cash compensation well below the market value for their positions, and offset that with equity sales and option sales that the market paid for. Thomas Jefferson said, " A wise man holds his tongue when he knows not the answer to a question asked, a fool responds and removes all doubt." Thanks for removing all doubt.

      • 2 Replies to jamitnurass
      • "Again, it is evident you understand this, but for the benefit of others not as educated as you, CEO or any other insider stock sales doesn't cost the company anything!! The proceeds of the sales are paid by the market."

        yeah, jammit the market pays. and you're the market. you pay with diluted earnings.

      • Coming from someone who calls himself "jamitnurass" speaks to the level of your overall intelligence. Inside company kiss-asses like yourself that do nothing but defend,apologise, and make excuses for Mr. enRon Middelstadt should do a little more to grow the company..quit losing marketshare in your existing markets..making lousy deals that do not vertically integrate any existing operations worth a damn. But I guess since this "whole internet thing" nobody is allowed to have an opinion that calls out CEO's that put millions in their own bank accounts while this company's growth has come to a screeching halt! Covertable debt at $38.00...now that was a wise choice...I know -go vote yourself about another 100,000 options. My point is that there is NO INCENTIVE for this clown to get anything done.(Don't explain to me the virtues of options as incentives) All he has to do is keep this thing from nose-diving and he continues to do quite nicely in the compensation dept. You can put this guys base pay at 10,000./yr..and claim poverty all you want..Him and the board will "revise" company option plans to benefit himself and all the kiss-asses apologists like yourself. The times they are a changing..Make things happen or get the hell out!

    • Your ceo[i am a casella waste-cwst shareholder] makes 384k base pay according to yahoo profile while tom van weelden of aw made $12.6 million in the latest data[stock options?]The stock price went from approx $10 in early 2000 to $37 so imho he was just profit taking just like other shareholders should have.Also most ceo's have financial advisors who like to insist that ceo's diversify and have some of their net worth in other assets.

 
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