furloughfodder
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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
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