What is Digg?86 Comments
- futureisours, on 10/10/2007, -4/+49With a float of 8 billion shares, it would take a major event to move the stock significantly upward/downward. Most executives have to file their purchases with the SEC at future dates. This is just a mere coincidence.
- Zamboni33, on 10/10/2007, -6/+41Something tells me this guy shouldn't be trusted...
- 5lectro, on 10/10/2007, -2/+33The one that says it's going to cost them a billion dollars, yes.
- shinythingy, on 10/10/2007, -3/+31Only a true fanboy could make MS out to be saints for it, you do know why they extended the warranty or do you just ignroe negative 360 news?
- jacksons98, on 10/10/2007, -3/+25Or was it the one where they rushed to market a defective piece of equipment, deleted forum posts and lied to our customers saying we've been experiencing defects within industry norms. What about the other issues that they have yet to address. You know all the issues besides the red ring of death that are only covered by the 1 yr warranty.
- tizz66, on 10/10/2007, -1/+17As far as I know it's illegal, so I probably wouldn't. These things are audited, there's a good chance you'll be discovered.
- bigbadgoat, on 10/10/2007, -4/+18what do you expect from a guy who gets paid to ***** around digg all day flaming the board with his MS FUD.
- chris9902, on 10/10/2007, -0/+14Just for anyone that cares here is what the guy has sold over the years. I could be wrong since I don't follow stocks but this guy has been selling on and off for 2 years (that it shows)
http://biz.yahoo.com/t/31/3855.html - totorototoro, on 10/10/2007, -1/+14Exactly! If it was such a positive "announcment", why would anyone in the company sell so much stock ahead of time, much less the guy responsible for the problem that warranted the new warranty? :p
- totorototoro, on 10/10/2007, -0/+12Actually, its because the "few weeks ago" news was the 6 million dollars worth of stock that Bach sold, and was duly reported by Microsoft at the time. THIS story is about an additional 3 million dollars worth of stock that Bach sold, "accidentally" not reporting it as required by law...and just revealed yesterday.
- djSyndrome, on 10/10/2007, -1/+12No, not duped. RTFA - it was recently discovered that he unloaded an additional 3m shares shortly before the original purge, which Microsoft conveniently 'forgot' to report.
- xOpifex, on 10/10/2007, -2/+13seriously, these MS paid diggers are getting annoying.
- OswaldKenobi, on 10/10/2007, -2/+12Anybody who knows anything about insider selling knows that executives will sell during scheduled open windows. They aren't able to sell stock like a regular investor. It's purely coincidental that shares were sold before the announcement.
- Narty, on 10/10/2007, -5/+14Maybe we should politely ask him to personally replace some faulty 360s...
- kenvsryu, on 10/10/2007, -0/+8The first clue was that he works for microsoft.
- totorototoro, on 10/10/2007, -0/+7http://digg.com/users/wageslaven
believe it :p - gharding, on 10/10/2007, -3/+9I dugg you up for not being an idiot!
- futureisours, on 10/10/2007, -0/+6You were setting yourself up for some of these replies. This is Digg afterall!
- elvenseven, on 10/10/2007, -2/+8I can't believe this guy...
- ahnonamis, on 10/10/2007, -2/+7I see...
Then I guess THAT'S just another example of me being a moron and not reading the entire story first. My bad. - felman87, on 10/10/2007, -0/+5He means he's sending it in to be fixed.
- uselessexpert, on 10/10/2007, -2/+7Yeah....Just blame forgetting to file with the SEC a clerical error... RIIIIGHT!
- explodey, on 10/10/2007, -1/+6Tommy Boy: Because they know all they sold ya was a guaranteed piece of *****. That's all it is, isn't it? Hey, if you want me to take a dump in a box and mark it guaranteed, I will. I got spare time.
- jdun, on 10/10/2007, -0/+4This is another example of how stupid diggers can be even when someone posted on how SEC regulation work. Executives have to filed a form to the SEC stating that they are selling or buying the company stock at a future date. It is not illegal for executives to sell stock that was giving to them by options. It is done all the time. One billion lost is not much for a company that is worth over 265 billions.
Inside trading means that an executive or a stock broker tell another person informations before a formal company announcement. The announcement might hurt or help the company stock. That third person will buy or sell depending on the information giving to him. This will give the third person an advantage over the rest of the investors. - Ndiggnation, on 10/10/2007, -3/+7It's what you experience after a night of lots of Thai food.
- pipedreambomb, on 10/10/2007, -0/+3Fortunately there is a "legal system" that means you don't have to decide from one short article whether or not someone is guilty of serious insider trading.
- TricK2039, on 10/10/2007, -1/+4and even if it was, I didn't see it, so stop whining about it already.
- reed311, on 10/10/2007, -1/+4That reminds me of when Bush was accused of insider trading and the excuse he used was that the document he was supposed to mail out was "lost in the mail". How convenient.
- totorototoro, on 10/10/2007, -0/+3thats ok, its still not as embarrassing as my iPhone comment in the multi-chat in GoogleTalk Digg. :((
- derkmerkin, on 10/10/2007, -0/+3Thats the best ***** comparison ive ever heard, im going to use that next time i talk about the breakbox 360.
- reed311, on 10/10/2007, -2/+5I'm torn as to whether he actually violated the law or not. I mean, Microsoft is a massive company and even though that warranty cost them a billion, it's really chump change to them and not a good reason to dump millions of dollars worth of stock. If it were another company that couldn't absorb that $1 billion, I could see; but I think this is a case of coincidence.
- Error601, on 10/10/2007, -0/+3The good old correlation implies causality fallacy. What did he trade last month? Last year?
- inactive, on 10/10/2007, -0/+3Well, since you used the word yourself, I think this is called "insider trading" and he should get a firm reprimand from the judge and have to go to some kind of summer camp resort prison for a few months for it. Justice prevails!
- Thuktun, on 10/10/2007, -1/+3Indeed, if you look at MSFT chart around the date of the "Red Ring" announcement, there's no significant movement there.
http://finance.yahoo.com/q/bc?s=MSFT&t=6m
There had been a downward trend in the stock during the period he was said to have sold those shares, which doesn't sound in variance with normal investment strategies. - inactive, on 10/10/2007, -3/+5it's basicly a ring which is red in color that can cause death.
cmon dude, use a bit of common sense, I don't have an xbox but I can easily work out what it is... - Frnnkdlxx, on 10/10/2007, -2/+4OOOOOh! Somebodies goin' to jaaaiiiil.
- vertinox, on 10/10/2007, -0/+2Are they still around?
- 808kick, on 10/10/2007, -0/+2unless it's a billion yen
- insomniac8400, on 10/10/2007, -0/+2This 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.
- gcnaddict, on 10/10/2007, -0/+2Maybe we should sue his ass and use the money he loses to reimburse the stock holders who were jipped. That or just let the SEC send him to a much smaller apartment, if you get my drift.
- daveisfera, on 10/10/2007, -0/+2Ya, the whole potentially going to jail thing would probably make me hesitate on doing that.
- zadadka, on 10/10/2007, -1/+3Your explanation is as much use as a chocolate ashtray.
- slasherx, on 10/10/2007, -3/+5No question about it. This especially angers me since I'm going for my 8th unit, and this one is a combo of the dvd drive crapping out and the constant freezes.
- Blitzenn, on 10/10/2007, -1/+2So? He took a risk in selling the stock. The issue wasn't a secret to anyone in the public. How can it be considered insider trading? I don't see the issue (nor will I buy one (an xbox) either).
- dansmeek, on 10/10/2007, -0/+1I find it funny, because this seems to be an 'attempt' at insider trading. But the truth is, Microsoft's XBOX is just a small portion of the various products Microsoft offers. So to be selling massive shares because of something like this is just stupid. From the article.... when the extended warranty was announced, MSFT shares barely fell.
And now he may be in a whole heap of trouble by making moves that didn't even really help him. - elhaf, on 10/10/2007, -0/+1Jesus, people. I could see these comments if it was mentioned it in the article, and I was too lazy to read it or something, but it's not there. Bad journalism, period. And diggers, what the *****?
- Emrtr4, on 10/10/2007, -1/+2It all depends on when he filed with the SEC, just because he sold his stock doesnt make it illegal, hell if I recieved part of my pay check in Microsoft stock I would sell it too.
- pipedreambomb, on 10/10/2007, -1/+2I don't even see why it would bring the stock down. The issue was common knowledge to anyone with an interest in the games industry, and presumably was reported in the financial papers. Personally I would have been extremely hesitant to buy a 360 given all the failing units. Now Microsoft have acknowledged the problem and taken steps to resolve it, the road is clear for the 360 to take on the PS3. I'd buy one.
- insomniac8400, on 10/10/2007, -0/+1Immoral? As an executive, why should you have to let all your stock devalue when you know something is coming in the future that warrants selling or losing all your money? You just can't go telling everyone else you know about it, of course your broker will know since he will see you selling all your stock.
- ndonohue, on 10/10/2007, -0/+1Its only insider trading if he told someone else not affiliated with Microsoft about it. Other than that, his actions were perfectly legal and this happens ALL the time
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