Reuters reports that Dick Parsons bought $500,000 worth of stock in the bag of rocks known as Time Warner (which I unfortunately also own). Would that this move reflected awesome Parsons insider acumen and bullishness. Alas, not only is $500,000 chump change for Mr. P, the purchase also appears to have been part of a long-term deferred comp plan. Maybe’s he’s planning to set up a tax loss?
UPDATE: Time Warner apparently says Dick bought the stock as a show of confidence in the company’s future. I’m not sure that necessarily follows (depends on the details of the comp plan), but he’d have displayed a lot more confidence if he’d added a couple of zeros.