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Massive Amounts of Insider Selling Right Before Presidential Election
8
November, 2012
Apparently
many executives decided to sell shares right before the presidential
election. This is not an assumption that anything is wrong in the
companies because insiders can sell shares for a myriad of reasons.
Some share sales are also just part of a planned sale and many are
simply options being exercised.
Still,
when you see big sales ahead of big events you have to wonder.
Perhaps these insiders decided that stocks could only go further down
after the election. Who knows for sure. Here are some of the big
share sales we have seen from corporate insiders that came in the
days immediately before the election. As a reminder, many insiders
expect that the 15% capital gains tax is not going to be in effect
even if a grand bargain is reached over the coming fiscal cliff.....
Sandy damages, losses estimated at $50 billion: New York governor
8
November, 2012
Sandy
damages, losses estimated at $50 billion: New York governor
The
installed electricity generating capacity achieved 1.06 billion
kilowatts, while the annual output of electricity was 4.7 trillion
kilowatt-hours.
"That
is a staggering number, especially with the financial situation we've
been in," Cuomo told a news conference.
Nor'easter
snow layers Sandy destruction; more evacuations, more power outages
8
November, 2012
Snow
fell on damaged homes and debris piles in parts of the New York City
area as a nor'easter moved in Wednesday, causing new power outages
and calls for evacuations.
By
Wednesday night, the winds had caused more than 100,000 new power
outages in the Mid-Atlantic and Northeast, the U.S. Energy Department
stated. That brought the total number to 715,000, most of those
remaining from Superstorm Sandy, which made landfall in New Jersey on
Oct. 29.
Throughout
the Tri-state area, people wore coats indoors as they endured yet
another night without heat. Some of those who had weathered Sandy
told NBC New York on Wednesday they were petrified.
"It's
like a sequel to a horror movie," said James Alexander, a
resident of the hard-hit Rockaway Peninsula. "Here we are, nine
days later — freezing, no electricity, no nothing, waiting for
another storm."
Alexander's
home was spared when Sandy hit, but homes around him burned to the
ground, and the boardwalk near his home was washed out to sea.
"They
said it would be a rough winter," he noted to NBC New York.
One
local resident refuses to be driven out by the latest storm, a combo
of snow and rain that is threatening areas already ravaged by
Hurricane Sandy. NBC's Stephanie Gosk reports.
About
1,200 flights were canceled across the Northeast, while residents of
a few areas hit hardest by Superstorm Sandy last week were urged to
evacuate in case of new flooding. Long Island Rail Road service was
also suspended before 7 p.m. because of weather-related signal
problems, NBC New York reported.
A
punishing nor'easter is expected to dump snow on storm-battered New
York and New Jersey. NBC's Jay Gray reports.
New
York Mayor Michael Bloomberg directed police to use their patrol car
loudspeakers to warn the 20,000 to 30,000 residents in vulnerable
areas to evacuate. In Belle Harbor, in Queens, police patrolled the
streets, advertising a warming shelter. Officers found that most had
left their homes to stay with family, NBC New York reported.
In
Toms River, N.J., residents of nearby barrier island communities
lashed out at the city council because they had not been allowed to
return to their homes since before Sandy hit.
Said
one resident at a city council meeting: "These people need to
understand it's our island, it's our home, and we need to defend it
like it's a castle."
The
snow from the latest Nor'easter is expected to continue through
midnight before finally winding down in the early hours of Thursday
morning. NBC's Janice Huff reports.
The
nor'easter, dubbed "Athena" by The Weather Channel, could
produce strong gusts that could also turn up piled debris from Sandy
into projectiles. (Last month, The Weather Channel announced it will
name noteworthy winter storms in an effort to “better communicate
the threat and the timing of the significant impacts that accompany
these events.")
"One
of the bigger concerns ... would be the debris that's been piled up
from all the residences and the businesses," Kevin O'Hara,
police chief in Point Pleasant, N.J., told The Weather Channel.
"With
winds picking up to 30-, 40-, 50-mile-per-hour gusts," he added,
"our fear is that if people are out and about they could be hit
by flying debris. We would urge people to stay in their houses, stay
home, and let the storm pass."
The
Long Island Power Authority dedicated more than 12,000 workers to
restoring power to its customers -- 8,000 of those workers were
linemen and tree trimming crews from around the country, including
some who had been airlifted in by the National Guard.
Sea
Bright, N.J., is among the areas fearing new flooding on Wednesday.
Katy Tur reports.
Snow
storms are unusual at this time of year in the New York area.
Snowfall had never previously been recorded at Islip, N.Y., Kennedy
and LaGuardia airports.
Central
Park recorded 2.8 inches of snowfall, beating the 1878 record of 0.1
inches. Bridgeport, Conn., saw 3.5 inches, breaking the former record
of 2.0 inches set in 1953. In Newark, N.J., 2.0 inches fell; trace
amounts had been recorded in 1981.
"It's
not a massive nor'easter by winter standards," said Weather
Channel expert Tom Niziol, "but at this time of year immediately
after Sandy's wrath and destruction, this isn't what we want."
"Mother
Nature is not cutting us a break along the East Coast," he said.
As
the day cooled into night, The Weather Channel forecast three inches
of snow in Philadelphia with wind gusts over 30 mph, a combination of
wet snow and wind in New Jersey, and snowfall totals of six to 12
inches in southeastern New York and New England.
In
New York, Bloomberg expected up to three inches of snow. He said no
new flooding occurred along the city's coastal areas "through
the first and most dangerous cycle of high tide" on Wednesday
afternoon.
Bloomberg
had ordered three nursing homes and an adult care facility evacuated
Tuesday from Queens' vulnerable Rockaway Peninsula. About 620
residents were moved.
Fearing
winds could down more trees, the city also closed all parks,
playgrounds and beaches at noon Wednesday, and ordered all
construction sites to be secured.
Airlines
cancel flights ahead of nor'easter
Sandy
killed more than 100 people, mainly in New York City and New Jersey,
and left more than 8 million homes and businesses without power.
Postal
carrier Kenneth Henn delivers mail in the evacuated section of
Belmar, N.J., on Tuesday as earth moving machines pile sand along the
beach.
Fearing
looters, Alex Ocasio told The Associated Press that he planned to
ride out the latest storm in his first-floor Rockaway apartment —
even after seeing cars float by his front door during Sandy.
As
the water receded during Sandy, men dressed in dark clothes broke
down the door and were surprised to find him and other residents
inside, he said.
"They
tried to say they were rescue workers, then took off," he said.
He
put up a handmade sign — "Have gun. Will shoot U" —
outside his apartment and started using a bed frame to barricade the
door. He has gas, so he keeps the oven on and boils water to stay
warm at night.
"It
gets a little humid, but it's not bad," he said. "I'm
staying. Nothing can be worse than what happened last week."
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