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Trump and Navarro probably held large interest in KODK prior to the announcement. I didn't even read the link prior to drawing that hypothesis. Questionable fast money and the sleaziness of the executive branch of government are tied at the hip.
Take a look who is on the board of the U.S. International Development Finance Corporation:
Trump and Navarro probably held large interest in KODK prior to the announcement. I didn't even read the link prior to drawing that hypothesis. Questionable fast money and the sleaziness of the executive branch of government are tied at the hip.
Take a look who is on the board of the U.S. International Development Finance Corporation:
You nailed it, @JoJo26. Trump and his team are notoriously close to Pelosi, so of course they slipped her the word, and not to any of the finance types who donate heavily to his campaign. It's only logical.
Trump probably has hand in it as he has hand out to get something as he never has enough. Trump wanted to give more money to FBI in the proposed stimulus plan for their existing building to modernize it so they will not move. If they move, a possible hotel/motel could move across the street and take business away from Trump industries.
Here is an article concerning Ross and a possible conflict of interest:
Regarding that "insider trading" - While I can no longer find the reference, evidently Kodak released a statement to the local (Rochester, NY) media on Monday to the effect they were expecting notification of a loan from the government. While supposedly meant to be communicated as background information, the message did not include that limitation. You can imagine.
You want honest-to-goodness pharmaceutical insider trading? Remember when Martha Stewart was packed off to jail? Now that was a real story. Sam Waksal was later named by Time Magazine to a list of Top Ten Crooked CEOs.
According to the Time Magazine article (link, please), Martha "unloaded all 3,928 of her company shares just days before the FDA's decision had been announced to avoid losing an estimated $45,673."
Let's put that in perspective. On July 27, right before the news hit Kodak granted options with an average exercise price of $4.67 (most with a $3 exercise price) to company insiders amounting to about: 1.75M to James V. Continenza, Chairman and CEO 45K to each of David E. Bullwinkle CFO, Roger W. Byrd VP, and Randy Vandagriff, VP https://www.secform4.com/insider-trading/31235.htm
Conservatively figuring a gain of $15/share (with a $22.72 share price this morning), that's a profit of $26M for the CEO and $675K for each of the VPs. That makes Martha look like a piker, and Waksal's whole entourage seem penny ante compared to Continenza. A difference is that here the option grants were done by the board, so the timing is suspicious but potentially "legal".
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Check out this info on Kodak from the Wall Street Journal, in another MFO thread.
https://www.cnbc.com/2020/07/28/kodak-soars-another-40percent-after-trump-announces-deal-to-manufacture-generic-drug-ingredients.html
https://markets.businessinsider.com/news/stocks/kodak-stock-price-surges-765-million-government-drug-loan-2020-7-1029444079#
"Even a blind squirrel finds a nut" to quote a friend.
Mutual fund investors with largest positions in Kodak:
https://money.cnn.com/quote/shareholders/shareholders.html?symb=KODK&subView=institutional
Great to see insider trading made great again. Crony capitalism at its best.
Take a look who is on the board of the U.S. International Development Finance Corporation:
https://www.dfc.gov/who-we-are/board-directors
Here is an article concerning Ross and a possible conflict of interest:
https://www.axios.com/wilbur-ross-growing-conflict-of-interest-problem-7c69357b-ca4d-42a2-a745-af8c495022aa.html
How about Trump wanting to delay the election? Problem is Congress has the ability to make that decision; not Trump.
You must be drinking the Rev. Jim Jones' or the POTUS' kool-aid?
While I can no longer find the reference, evidently Kodak released a statement to the local (Rochester, NY) media on Monday to the effect they were expecting notification of a loan from the government. While supposedly meant to be communicated as background information, the message did not include that limitation. You can imagine.
You want honest-to-goodness pharmaceutical insider trading? Remember when Martha Stewart was packed off to jail? Now that was a real story. Sam Waksal was later named by Time Magazine to a list of Top Ten Crooked CEOs.
She was not jailed for insider trading. Her conviction was "for obstruction of justice, making false statements and conspiracy for lying to investigators." These days, the Justice Department works hard at letting those things slide.
https://money.cnn.com/2018/05/31/news/companies/trump-martha-stewart-pardon/index.html
Fox News reports that the day Martha was dumping her shares, Waksal's friends and family combined dumped shares with a total value (not loss) of $3M.
"https://www.foxnews.com/story/the-rise-and-fall-of-imclone-systems
Let's put that in perspective. On July 27, right before the news hit Kodak granted options with an average exercise price of $4.67 (most with a $3 exercise price) to company insiders amounting to about:
1.75M to James V. Continenza, Chairman and CEO
45K to each of David E. Bullwinkle CFO, Roger W. Byrd VP, and Randy Vandagriff, VP
https://www.secform4.com/insider-trading/31235.htm
Conservatively figuring a gain of $15/share (with a $22.72 share price this morning), that's a profit of $26M for the CEO and $675K for each of the VPs. That makes Martha look like a piker, and Waksal's whole entourage seem penny ante compared to Continenza. A difference is that here the option grants were done by the board, so the timing is suspicious but potentially "legal".