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Menu Foods CFO sells off shares before recall

geisha
April 10th, 2007, 03:40 PM
Did anyone else read the Globe & Mail business section this am? The CFO Mr. Weins sold 45% of his shares in Menu Foods in late February just prior to the public announced recall of menu pet foods. He sold his shares for over $100,000. Disgusting disgraceful, despicable!!!! :mad:

hazelrunpack
April 10th, 2007, 04:25 PM
Ooooo, naughty, naughty! If it's true, hope they nail him. :frustrated:

TeriM
April 10th, 2007, 04:32 PM
I agree, I'll bet he's gonna get his butt kicked over that one :thumbs up .

Prin
April 10th, 2007, 04:36 PM
Oooo insider trading! Bad move CFO man.:evil:

hazelrunpack
April 10th, 2007, 04:47 PM
Makes you wonder why they do stuff like that since it seems so easy to find out who's sold what... :shrug: Do they think no one will notice? :confused:

x.l.r.8
April 10th, 2007, 05:32 PM
From what the news was saying, it's apparantly "unfortunate timing". :shrug:
To me it soulds like very fortunate timing, in fact you couldn't be more fortunate than just before disaster strikes. :eek: :sad:

geisha
April 10th, 2007, 05:38 PM
Interesting how the Globe & Mail has the gumption to print this, while the Edmonton Journal hasn't mentioned anything about it. I think some newspapers don't want to upset their advertisers. Hmmm:eek:
Anyway sorry I'm off topic :offtopic:

~michelle~
April 10th, 2007, 05:39 PM
disgusting the things people can do for a dollar

One Beagle Girl
April 10th, 2007, 07:05 PM
I hope Menu Foods goes under. I hope it takes the CFO with it!

:mad:

mafiaprincess
April 10th, 2007, 10:58 PM
It was on the major news channels tonight.

rainbow
April 10th, 2007, 11:21 PM
I hope Mr. Weins gets nailed to the wall for this. :mad:

Shamrock
April 12th, 2007, 05:38 PM
Mr Weins says it's all "a horrible coincidence" :rolleyes:

Apparently, it's a common practice to routinely sell shares at certain key times.
"Suspected" motivations could be extremely hard to prove.

http://www.animalperson.net/animal_person/2007/04/on_stock_sales_.html
This site covers these points, as well as offering an intriguing time line of events:

February 20-Menu received its first reports of problems with its products.

February 26-Menu begins testing on 50 live animals.

Shortly thereafter, some of the animals die (we're not sure exactly when).

February 26 and 27-CFO Mark Wiens sells 14,000 shares for $90,000.

March 16-Recall announced.

April 10-The other half of Weins' shares is now worth $54,000, so the share price has dropped almost 40%.

----
"Horrible coincidence"? We'll likely never know. :shrug::sad:

Prin
April 12th, 2007, 09:23 PM
Nothing is ever a coincidence when money is involved....

kathryn
April 12th, 2007, 10:13 PM
I'm hearing lots about how it looks like alot of this was done on purpose.

Personally, I wan't to see the people who tested the tainted food on the innocent animals go down as much as I want the people who killed the pets to go down. I mean ... yes, lets feed poor innocent lab cats/dogs some tainted food and see what happens :mad:


I know this was some big scandle~conspiracy!

worrier
April 13th, 2007, 04:19 AM
:laughing: what an idiot, he will use up every penny of the cash he got for those sales on lawyers. :thumbs up smooth move