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> Bach Sold Stock as Xbox Problems Mounted
Xbox-Scene
post Jul 12 2007, 03:32 AM
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Bach Sold Stock as Xbox Problems Mounted
Posted by XanTium | July 11 22:32 EST | News Category: Xbox360
 
From next-gen.biz:
[QUOTE]
Regulatory filings indicate that Robbie Bach, president of Microsoft's Entertainment and Devices division, has sold $6.2 million worth of company stock since May, a period during which mounting Xbox 360 technical problems have come to light.

While corporate executives often partake in scheduled selling plans to ensure they aren't perceived to be using insider information to sell stock for personal benefit, the report indicates that Bach's insider sales were not done according to a scheduled plan.

While Bach was unavailable for comment, Microsoft spokesman Eric Hollreiser commented on his behalf.
"Robbie Bach's past trading is completely unrelated to last week's announcement. ... [He] continues to hold a significant stake in Microsoft and remains confident in the long-term success of the company."
[/QUOTE]

Full Story: next-gen.biz

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gerzand
post Jul 12 2007, 03:01 AM
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All I can think about is "Here comes the next Martha Stewart" lol... prolly not tho
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fierygt
post Jul 12 2007, 03:20 AM
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QUOTE
[He] continues to hold a significant stake in Microsoft and remains confident....



Right...anyone who sells 6.2 million worth of stock in their company, (with coincidental timing), ALWAYS "remains confident", because that's just how the stock market works. dry.gif
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PerfectGun
post Jul 12 2007, 03:21 AM
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Wow, MS can't catch a break lately. This has been a bad week/month for MS. Somebody has definately poo'd in their chili.

And the bad press continues..
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quarky42
post Jul 12 2007, 03:26 AM
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This response comes from a company that has lied to us about the failure rate from day one. Anyone with 3 or more failed ring of death boxes knows that the failure rate is beyond "acceptable" or even "expected" rates... yet that is what Microshaft would have you believe.
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Xizer
post Jul 12 2007, 03:33 AM
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Maybe he just needed some cash?
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Havok
post Jul 12 2007, 03:44 AM
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There were widespead pubic reports about Xbox 360 problems... It only illegal if you use inside information... it was pretty much public even though they denied it.

Also, The whole company does not revolve around the Xbox 360.


Its not like Windows Vista is winning any awards...

Just doesn't seem like he did anything wrong... Whats the point of having stock if you have to hold it forever...
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Heet
post Jul 12 2007, 03:55 AM
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He knew it'd be public knowledge, and didnt care. I dont either. All I care about is them fixing the damn thing.
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Lucky1201
post Jul 12 2007, 04:03 AM
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QUOTE(Havok @ Jul 11 2007, 11:20 PM) *

There were widespead pubic reports about Xbox 360 problems... It only illegal if you use inside information... it was pretty much public even though they denied it.


and there's the problem
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ILLusions0fGrander
post Jul 12 2007, 04:09 AM
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this was supposed to be a secret...

he sold them to me for $250 when he saw a wii in stock at target.
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JBmtk
post Jul 12 2007, 04:17 AM
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QUOTE(Xizer @ Jul 11 2007, 10:09 PM) *

Maybe he just needed some cash?


agreed, maybe he was supposed to run errands that night?
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Lucky1201
post Jul 12 2007, 04:22 AM
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QUOTE(ILLusions0fGrander @ Jul 11 2007, 11:45 PM) *

this was supposed to be a secret...

he sold them to me for $250 when he saw a wii in stock at target.

laugh.gif laugh.gif laugh.gif
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Morlok8k
post Jul 12 2007, 04:29 AM
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...if i had 6.2 million in stock just sitting there i'd sell it too! and i'd invest it into something much more stable than the stock market.

becides... it's his own personal stock - he can do whatever he wants with it.
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1nn0cent
post Jul 12 2007, 04:39 AM
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Now that is one serious, "coke" problem. lol
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19Ripper75
post Jul 12 2007, 04:48 AM
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QUOTE(Havok @ Jul 11 2007, 09:20 PM) *

There were widespead pubic? reports about Xbox 360 problems... It only illegal if you use inside information... it was pretty much public even though they denied it.

Also, The whole company does not revolve around the Xbox 360.


Its not like Windows Vista is winning any awards...

Just doesn't seem like he did anything wrong... Whats the point of having stock if you have to hold it forever...




Note the underlined word in the quote. Sorry dude. I just saw that typo and laughed my ass off. I'm not making fun of you or anything, but that turned a horrible day into a funny one.



But seriously, after selling that much stock, makes me wonder how much longer he'll be around.
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