arstechnica.com— Xbox President of Entertainment and Devices Robbie Bach apparently unloaded $9.2 million worth of shares right before Microsoft officially announced the Red Ring of Death issue with the Xbox 360.
Aug 14, 2007View in Crawl 4
I always wondered why people with a ton of shares tend to sell it off every few months instead of just doing it all at once. I mean, if you needed 10 million for some new house, wouldn't you just want to grab it all when you needed it instead of prematurely taking it out ahead of the time where the stock can actually rise and make you more money?Guess I'll never have this much of anything to compare it to, just seems weird, unless he's just moving money from one stock to another. I wish I had this problem.
Right before I read this... like 5 minutes my Xbox 360 goes red ring of death! Then the "server" was updating at Microsoft outsource headquarters! So result call back in 17 hours.
This must be a joke? To think an exec would really base his selling of stock on the xbox ring of death. The xbox is not a money maker and therefore isn't really going to effect microsoft stock. Lets save the conspiracy theories to when we get an announcement that the windows source code has leaked to the internet.
elhafAug 14, 2007
What's a red ring of death?
pippersAug 14, 2007
I always wondered why people with a ton of shares tend to sell it off every few months instead of just doing it all at once. I mean, if you needed 10 million for some new house, wouldn't you just want to grab it all when you needed it instead of prematurely taking it out ahead of the time where the stock can actually rise and make you more money?Guess I'll never have this much of anything to compare it to, just seems weird, unless he's just moving money from one stock to another. I wish I had this problem.
row3bo4tAug 14, 2007
Right before I read this... like 5 minutes my Xbox 360 goes red ring of death! Then the "server" was updating at Microsoft outsource headquarters! So result call back in 17 hours.
insomniac8400Aug 14, 2007
This must be a joke? To think an exec would really base his selling of stock on the xbox ring of death. The xbox is not a money maker and therefore isn't really going to effect microsoft stock. Lets save the conspiracy theories to when we get an announcement that the windows source code has leaked to the internet.
daveisferaAug 14, 2007
Ya, the whole potentially going to jail thing would probably make me hesitate on doing that.
cjngrlAug 15, 2007
Hmm...Sounds Familiar... Isn't this similar to what Martha Steward did - maybe this guy can get his cellmate to knit him a poncho too.
senatorpenguinAug 15, 2007
It doesn't take much insider information to know that the hardware had serious issues. I can see this guy getting away with this.