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NWA chairman cashes in stock

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NWA chairman cashes in stock
Tuesday September 20, 11:35 am ET Less than a month before Northwest Airlines Corp. filed for bankruptcy protection, Chairman Gary Wilson sold $1.8 million in Northwest stock, roughly one-third of his remaining shares. The trades, disclosed in securities filings on Monday, are the latest in a series of stock sales by Wilson, who earlier this year owned more than 4 million shares. After the sale on Aug. 26, that number dropped to less than 600,000.
At the time, Northwest (Nasdaq:NWACQ - News) was already engaged in preparing for a possible bankruptcy filing, though the Eagan-based carrier's board of directors didn't decide to file for Chapter 11 protection until Sept. 13.

Northwest's stock was trading at more than $5. Shares were at 81 cents yesterday.

Representatives of the airline had said earlier this year that Wilson had begun a trading plan to sell off some of his shares to diversify.

Published September 20, 2005 by The Business Journal
 

Andy Neill

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He filed notices of a planned sale of 250,000 shares on
13, 20, 27 May
3, 13, 20, 29 Jun
and 1 and 22 Aug.
He filed notices to sell 500,000 on 7 Jun, 1,000,000 on 8 Jun, and 670,000 on 10 Jun.

It seems to me that due notice was given and the consumer benefitted by that notice if heeded.

Prices during that time ranged from $3.80 to $6.82.

Then again, he filed a notice to sell 1,000,000 shares for $14+ in Oct 2003 and carried through with that order.
 

Flying Illini

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so it sounds like legit trading...even though he had knowledge that things weren't going well.
 

Andy Neill

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Flying Illini said:
so it sounds like legit trading...even though he had knowledge that things weren't going well.
That's what I'm thinking.
 

Gulfstream 200

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Every single one of us would do the same thing.
 

YGBSM

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Thanks.

Honest question. I don't know squat about the stock market.
 

AZ Typed

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YGBSM said:
Thanks.

Honest question. I don't know squat about the stock market.
Niether do most Americans - hence they are overleveraged, in too much debt, lack savings and retirement plans, and scream when the "smart" ones make wise choices with their money (as Mr. NWA did here). It's just not fair, eh.

Rant Over
 

Rez O. Lewshun

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Phil Bakes, orchestrator of deregulation and Lorenzo's boy held on to his stock till the end and it was worthless. His wife suggested he sell it, but Bakes was afraid that Lorenzo would question his motives and loyalty....

In the end Bakes loss it all but he found out that Lorenzo had sold his stock at a good time and made bank.

Phil Bakes.... a real chump.....
 

Redmeat

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AZ Typed said:
Niether do most Americans - hence they are overleveraged, in too much debt, lack savings and retirement plans, and scream when the "smart" ones make wise choices with their money (as Mr. NWA did here). It's just not fair, eh.

Rant Over
Doug, is that you?
 

KigAir

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Rez O. Lewshun said:
In the end Bakes loss it all but he found out that Lorenzo had sold his stock at a good time and made bank.
Which is why a person has to do what's good for them and not others.
 

Rez O. Lewshun

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KigAir said:
Which is why a person has to do what's good for them and not others.
Well if you serve the dollar yes.....

If you are a pilot, then you look out for your fellow pilot.
 

miles otoole

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Rez O. Lewshun said:
Well if you serve the dollar yes.....

If you are a pilot, then you look out for your fellow pilot.
Unless you need extra drinking money, then you pick up extra flying when others are furloughed.
 
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