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Re: McCain on Larry Ellison and Corporate Responsibility / Re: OT -

From: Eric D. Pierce <>
Date: Mon, 15 Jul 2002 09:43:22 -0800
Message-ID: <>


It is my understanding that Oracle's stocks have gone up and down wildly several times.

As you say, the only time I've heard that Larry Ellison cashed out before a plunge happened was the recent one that McCain brought up.

I'm afraid I fail to see what you think people should conclude from all that.

Are you saying that it is ok for stock holding workers and investors to get gigantically screwed just because Larry Ellison has only done it once?


On 15 Jul 2002 at 4:53, Tim Gorman wrote:

Date sent: Mon, 15 Jul 2002 04:53:21 -0800 Corporate Responsibility / Re: OT -

To:             	Multiple recipients of list ORACLE-L 

> My understanding is that this was the very first time Ellison had ever sold
> Oracle stock, in over 25 years of the company's existence, in 2000, which is
> the occasion that McCain (and you) are referring to. As you might be aware,
> there was a far greater "opportunity" for Ellison to "cash out" and leave
> Oracle dangling in 1990, when the price dropped from around $20 to $6 almost
> overnight after some financial-earning restatements. On that occasion, he
> would certainly have had prior knowledge of what was going to happen, to put
> it mildly. In 2000, any foreknowledge of a long-term downturn (26 months
> and counting?) would have been worth far more than $700m, especially to
> someone holding several billions in equities...
> ----- Original Message -----
> To: "Multiple recipients of list ORACLE-L" <>
> Sent: Sunday, July 14, 2002 10:13 PM
> unix
> > Speaking of herds, or at least what is left behind on
> > the ground after they pass:
> >
> > on "Meet the Press" (TV program), Senator John McCain
> > said that Larry Ellison cashed out $700,000,000 of his
> > Oracle stocks just before they lost most of their
> > value (sarcasm: I'm sure he is planning on plowing it
> > back into the company, especially improving quality in
> > OWS and Metalink).


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Author: Eric D. Pierce

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Received on Mon Jul 15 2002 - 12:43:22 CDT

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