[DogBarkTree]

"horrible coincidence" Yea right. And I am an Astronaut from Mogadishu.

[cripplecreek]

It could be a coincidence but it sure don’t look good.

[cardinal4]

"horrible coincidence" Yea right. And I am an Astronaut from Mogadishu.

So now anyone who makes money off of company stock is suspect? Thats absurd. All the pet food companies used the same supplier. Unless the CFO was in bed with a supplier who was knowingly selling bad stuff, which I doubt, then thats all this is- a coincidence..

[Centurion2000]

The chief financial officer of Menu Foods Income Fund says it was a "horrible coincidence" that he sold nearly half his units in the pet food company less than three weeks before a massive product recall.

Hope he enjoys prison because he's gonna find out why they call it the pokey.

A canadian Ivan Boesky?

[silverleaf]

“horrible coincidence” he engaged in a personal cashout while thousands of beloved pets were being fed life-ending industrial waste. How very unfortunate indeed.

[Jagman]

I hope they really hound him on this. I know the SEC can be pretty dogged in pursuing cases like this one, but sometimes they just play cat and mouse. In any event, he’s really in the dog house!

[italianquaker]

more fuel for Senator Durbins fire

[Pearls Before Swine]

I believe him.

Unless it turns out that he had some convincing advance of the poisoning before the complaints became public, it probably is a coincidence. Especially if he’s in the habit, as some execs are, of routinely selling the stock they routinely acquire as vested compensation.

[Cicero]

I’m inclined to believe it. I don’t know what his salary is, but it doesn’t seem like a lot of stock or a lot of money for what I gather is a fairly large company.

[Bommer]

he sold nearly half his units in the pet food company less than three weeks before a massive product recall.

In the 3 weeks before any of this crap happened, hundreds of tons of dog food would have been processed and cycled through after the sale of the stock. Theres nothing there.

[stockpirate]

There are in fact certain rules that apply to cororate officers as to when they can and cannot sell shares.

This boils down to when was he advised about the problem and when did he enter the documents to sell his shares.

i like to think not guilty until proven otherwise, call me conservative.

[freekitty]

Sure. He wants to get out of Dodge with the moola before these poor pet owners come looking for him. Freeze his assets and let them sue his you know what off.

[Teacher317]

imagine for a moment that he's telling the truth...
imagine the personal hell he's going to go through ...
and there's no way to get out of it. He cannot "take it back", he cannot un-ring the media's bell, and he cannot repay his "unrealized losses" (which day's trading price do you choose as "fair"?).

Talk about bad luck! Did he kick a black cat under a ladder into a fragile mirror?

[Caramelgal]

"Rut-Ro!"

I don’t know much about the Ontario Securities Commission vs. the SEC here in the US but I seem to recall from an “Insider Trading” class I had to take when I was a staff accountant in a publicly traded company, that the amount of stock sold or the amount of profit made is not the issue. Insider trading is having any inside knowledge not yet made available to the public, of any event that may positively or negatively effect the value of the company stock and buying or selling stock based on that inside knowledge.

And according to the laws here, you don’t even have to profit from it if, for example, you tell you husband about some inside information and your husband tells one of his golf buddies and he tells his brother and the brother buys or sells stock based on that information before the information is made public – if the SEC can trace that back to you – bam – you can do some hard time.

If it’s a coincidence the timing of the sale is very unfortunate for this guy.

If it comes out that he had prior knowledge of a problem….well he could be in some deep Scooby do do.

[Bloody Sam Roberts]

Wiens said the first reports about pet-related illnesses connected to Menu Foods products were made in late February.

That may be true but the manufacturer was doing trials where up to 15 animals died during testing as far back as December 2006.

This guy is lying through his teeth.

[KeyLargo]

If you love animals, this story will make your blood boil! A dog was found wandering in a Texas town with wire wrapped around its mouth. Go to: http://www.nbc5.com/index.html