Countrywide - Mozilo Sells A Load More Shares.

This company is not in the clear yet, it will head below 15 a share. Im sure single digits are possible. Housing will not see a bottom for another 3-4 years maybe even longer.
 
Quote from THE-BEAKER:

This guy is unbeleivable.

His last share sale was back in the first week of August just as the subprime meltdown and credit crunch hit the market.

He last sold around $28.

Now has has come back into the market and sold two lots.

First lot was on the 08/10/07 - $ 2,818,368.00 worth of shares at $20.14

Second lot was on the 09/10/07 - $2,780,632.00 worth of shares at $19.87

Now bear in mind the state of the company and the pressure they are under to turn it around i cant beleive he and the upper management are allowing his share selling program awarded through options has now been given the go ahead.

Its a fucking disgrace to be honest.

I think if most investors and shareholders actually knew the details of this they would pull out.

My understanding of an executive cashing in options awarded by the board is that he has to improve the state of the company.

Well Mozilo has done the opposite.

I think Countrywide has not got a hope in hell of recovering from this mess and the fact that the chairman has no confidence at all in the share price is another reason.

Im short the shares and staying short.

What a disgrace.

Anyway details below.


http://www.secform4.com/insider-trading/25191.htm
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What's unbelievable is you beating a dead horse.

A load? A load more for the specialist to re-market. Higher.

52 week low was August 16th. My calendar tells me it's October. When CFC breaks to a new low, be sure and let me/us know!
 
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