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Bach Sold Stock as Xbox Problems Mounted
>> 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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