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Al Gore Nets Another Fortune on Apple Stock [Buys 60,000 Shares Valued @ $7.48/Share!]
Yahoo News ^ | January 18, 2013 | Javier E. David

Posted on 01/18/2013 9:01:18 PM PST by Steelfish

Al Gore Nets Another Fortune on Apple Stock By Javier E. David Former U.S. vice president Al Gore recently netted a huge payday by selling his cable station. Now, it appears he's making another big profit buying Apple's (AAPL) stock on the cheap.

Al Gore According to a filing with the Securities and Exchanges Commission, Gore -- a director on Apple's board -- exercised an option to purchase nearly 60,000 shares of the tech giant at the bargain basement price of $7.48, costing him a total of about $445,000.

But with Apple's current market price at about $500 a share, Gore's holdings are worth $29.75 million, giving him a huge windfall-on paper at least. Gore, however, could easily afford to buy Apple's stock at the prevailing market price.

In early January, the environmental crusader sold his Current TV venture to Qatar-based news organization Al Jazeera for $500 million. Published reports say the sale of Gore's 20 percent stake in the network - worth an estimated $100 million - would bring his net worth to about $300 million

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: algore; apple; burnedrecords; crazedsexpoodle; manbearpig; milliondollarmarxist; onepercent; pmrc
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1 posted on 01/18/2013 9:01:28 PM PST by Steelfish
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To: Steelfish

Andrew Wilkow: “Socialism is for the people, not the Socialist.”


2 posted on 01/18/2013 9:05:55 PM PST by DTogo (High time to bring back The Sons of Liberty !!)
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To: Steelfish

The Marxist will be wanting to confiscate all that wealth and spread it around. It’s for the children.


3 posted on 01/18/2013 9:08:28 PM PST by Jim Robinson (Resistance to tyrants is obedience to God!!)
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To: Jim Robinson
For the stock market ignorant among us, how is Gore able to do this?

Yes, if I wanted 60K shares of Apple it would cost quite a bit more than $8 per share.

What am I missing? Apple hasn't been under $8 for at least 2 decades.

4 posted on 01/18/2013 9:13:03 PM PST by boop ("You don't look so bad, here's another")
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To: Jim Robinson

Chump change for algore. Apple stock was over $200.oo a share higher a couple of months ago.


5 posted on 01/18/2013 9:18:56 PM PST by onyx (FREE REPUBLIC IS HERE TO STAY! DONATE MONTHLY! IF YOU WANT ON SARAH PALIN''S PING LIST, LET ME KNOW)
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To: boop

It’s called stock options. At some point he must have been granted/given/paid in stock options - that is, the option to purchase stocks at a particular price.

So he sat on it until now - apparently Gore is trying to raise money and/or knows something that the general public/markets don’t know (insider trading?).


6 posted on 01/18/2013 9:21:37 PM PST by TheBattman (Isn't the lesser evil... still evil?)
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To: Steelfish

Another reason why I will never buy an Apple product.


7 posted on 01/18/2013 9:22:10 PM PST by Fresh Wind (The last remnants of the Old Republic have been swept away.)
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To: boop
For the stock market ignorant among us, how is Gore able to do this?

"Al Gore . . . exercised an option to purchase nearly 60,000 shares of the tech giant at the bargain basement price of $7.48, costing him a total of about $445,000."

8 posted on 01/18/2013 9:22:33 PM PST by FoxInSocks ("Hope is not a course of action." -- M. O'Neal, USMC)
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To: boop
For the stock market ignorant among us, how is Gore able to do this?

He probably bought leaps a few years ago.

Anybody can do it, you just have to guess right.

A leap is a long term option.

An option is where you purchase the right to buy a stock for a certain price for a certain amount of time, usually in 6 month increments.

You are buying time and value.

9 posted on 01/18/2013 9:23:13 PM PST by Mogger (Independence, better fuel economy and performance with American made synthetic oil.)
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To: onyx

FYI Gore is richer than Romney


10 posted on 01/18/2013 9:23:13 PM PST by al baby (Hi Mom)
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To: boop

Apple was in the single digits around 2006. He probably was given options when he joined the board.


11 posted on 01/18/2013 9:24:18 PM PST by guyfromjrz (fresh breath, it speaks for itself.)
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To: Steelfish

Good for him! Steve Jobs did the same thing. That’s how it works at that level.


12 posted on 01/18/2013 9:24:28 PM PST by bubbacluck
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To: al baby

Yes, I know and neither will ever be president...LOL.


13 posted on 01/18/2013 9:27:20 PM PST by onyx (FREE REPUBLIC IS HERE TO STAY! DONATE MONTHLY! IF YOU WANT ON SARAH PALIN''S PING LIST, LET ME KNOW)
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To: boop

It was apparently in AG’s contract. But I cannot imagine how this hypocrite added 29 million in value. I am not so sure Apple is now a well run company, especially after reading this.


14 posted on 01/18/2013 9:28:30 PM PST by The_Media_never_lie (Actually, they lie when it suits them! The crooked MS media must be defeated any way it can be done!)
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To: liege

At least Steve Jobs had something to do with Apple’s success. What has iGore contributed (other than inventing the Internet)?


15 posted on 01/18/2013 9:30:00 PM PST by Fresh Wind (The last remnants of the Old Republic have been swept away.)
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To: Steelfish

Al Gore got a seat on Apple’s Board of Directors for his ability to open up doors in D.C. Don’t blame him, blame the corrupt political system.


16 posted on 01/18/2013 9:33:36 PM PST by Revolting cat! (Bad things are wrong! Ice cream is delicious!)
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To: Revolting cat!
Al Gore got a seat on Apple’s Board of Directors for his ability to open up doors in D.C.

Or more likely, protection.

Spit.

17 posted on 01/18/2013 9:37:39 PM PST by St_Thomas_Aquinas
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To: Steelfish

A fat lot of good that money’s gonna do him. He’s still going to have to wake up tomorrow morning, look in the mirror, and see Al Gore starin’ back! :O


18 posted on 01/18/2013 9:39:10 PM PST by The Duke
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Comment #19 Removed by Moderator

To: Revolting cat!
Don’t blame him, blame the corrupt political system.

Gore is a big part of the corrupt political system. He deserves some of the blame.

20 posted on 01/18/2013 9:42:13 PM PST by Fresh Wind (The last remnants of the Old Republic have been swept away.)
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