Google's Eric Schmidt Selling Up To 2.4M Shares

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Need to make a quick $1.5B? Sell off a couple million shares of your Google stocks and you're good to go.

Former Google CEO Eric Schmidt plans to sell up to 2.4 million shares of stock currently worth nearly $1.5 billion. Schmidt, now Google's executive chairman, intends to stagger the sales of the stock over a one-year period. Google disclosed Schmidt's plans in a Friday regulatory filing. The company said Schmidt, 56, is trying to raise some money and diversify his investment portfolio.
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potency said:
Diversifying, or does he know something the rest of us don't?
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Well thats an obvious statement. Now if you could find out where he is diversifying, that would be news. 1.5 billion if not reinvested right away takes a big hit by the taxman.
 
He's probably going to buy some Microsoft stock. :D I think it is a bit telling that this is happening right before the new privacy policy takes effect.
 
He probably wants to take advantage of capital gains loopholes before laws get changed or rates go up. Recent story I read has Obama pushing for dividends to be taxed as normal income, instead of loophole 15% rate. So holding all that stock will cost more per year... assuming Google pays out dividends that is.
 
potency said:
Diversifying, or does he know something the rest of us don't?
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If he knows something the rest of us don't and is using that to sell stocks that would be called insider trading and he would go to jail for it - there's a reason companies have fixed periods of time during which you are allowed to sell that are always *after* any financial news is released ;)

Could also be he just wants to back off a bit since he is no longer CEO.
 
Selling shares is pretty normal for people who get paid in shares. Scheduled sales are cool.

It's the unscheduled ones that sometimes need attention...
 
I'd recomend investing in whatever he invests his 2.4M into.

But apparently not into Google in the near future.
 
Uncle said:
Well thats an obvious statement. Now if you could find out where he is diversifying, that would be news. 1.5 billion if not reinvested right away takes a big hit by the taxman.
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Actually, it was a question, not a statement, made obvious by the question mark at the end:cool: But anyways, I wonder how it will affect Google's stock value.
 
kllrnohj said:
If he knows something the rest of us don't and is using that to sell stocks that would be called insider trading and he would go to jail for it - there's a reason companies have fixed periods of time during which you are allowed to sell that are always *after* any financial news is released ;)

Could also be he just wants to back off a bit since he is no longer CEO.
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Definitely, but it would be naive to believe that insider trading doesn't happen regularly. I generally don't trust people in his tax bracket. :p
 
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