Guest BlackJesus Posted November 2, 2005 Report Share Posted November 2, 2005 [color="#990000"][b]You can not make this shit up !!!! First Cheney and Haliburton and now Rumsfeld and Tamiflu ..... (this is by fortune magazine by the way --- a Right wing magazine) ..... Oh yeah and today [u]Bush announced that he wanted to spend 1 Billion dollars to purchase - You guessed it = Tamiflu[/u] [/b][/color] [size=3][u][b][quote][img]http://money.cnn.com/2005/10/31/news/newsmakers/fortune_rumsfeld/warplan_rumsfeld.03.jpg[/img] Rumsfeld's growing stake in Tamiflu Defense Secretary, ex-chairman of flu treatment rights holder, sees portfolio value growing. October 31, 2005 By Nelson D. Schwartz Fortune Magazine[/b][/u][/size] NEW YORK (Fortune) - The prospect of a bird flu outbreak may be panicking people around the globe, but it's proving to be very good news for Defense Secretary Donald Rumsfeld and other politically connected investors in Gilead Sciences, the California biotech company that owns the rights to Tamiflu, the influenza remedy that's now the most-sought after drug in the world. Rumsfeld served as Gilead (Research)'s chairman from 1997 until he joined the Bush administration in 2001, and he still holds a Gilead stake valued at between $5 million and $25 million, according to federal financial disclosures filed by Rumsfeld. The forms don't reveal the exact number of shares Rumsfeld owns, but in the past six months fears of a pandemic and the ensuing scramble for Tamiflu have sent Gilead's stock from $35 to $47. That's made the Pentagon chief, already one of the wealthiest members of the Bush cabinet, at least $1 million richer. Rumsfeld isn't the only political heavyweight benefiting from demand for Tamiflu, which is manufactured and marketed by Swiss pharma giant Roche. (Gilead receives a royalty from Roche equaling about 10% of sales.) Former Secretary of State George Shultz, who is on Gilead's board, has sold more than $7 million worth of Gilead since the beginning of 2005. Another board member is the wife of former California Gov. Pete Wilson. "I don't know of any biotech company that's so politically well-connected," says analyst Andrew McDonald of Think Equity Partners in San Francisco. What's more, the federal government is emerging as one of the world's biggest customers for Tamiflu. In July, the Pentagon ordered $58 million worth of the treatment for U.S. troops around the world, and Congress is considering a multi-billion dollar purchase. Roche expects 2005 sales for Tamiflu to be about $1 billion, compared with $258 million in 2004. Rumsfeld recused himself from any decisions involving Gilead when he left Gilead and became Secretary of Defense in early 2001. And late last month, notes a senior Pentagon official, Rumsfeld went even further and had the Pentagon's general counsel issue additional instructions outlining what he could and could not be involved in if there were an avian flu pandemic and the Pentagon had to respond. As the flu issue heated up early this year, according to the Pentagon official, Rumsfeld considered unloading his entire Gilead stake and sought the advice of the Department of Justice, the SEC and the federal Office of Government Ethics. Those agencies didn't offer an opinion so Rumsfeld consulted a private securities lawyer, who advised him that it was safer to hold on to the stock and be quite public about his recusal rather than sell and run the risk of being accused of trading on insider information, something Rumsfeld doesn't believe he possesses. So he's keeping his shares for the time being.[/quote] [url="http://money.cnn.com/2005/10/31/news/newsmakers/fortune_rumsfeld/?cnn=yes"]http://money.cnn.com/2005/10/31/news/newsm...msfeld/?cnn=yes[/url] Link to comment Share on other sites More sharing options...
Kool Keith Posted November 2, 2005 Report Share Posted November 2, 2005 And? How long has Rumsfeld had the shares? That's what I want to know. If he bought in 3 weeks ago...there might be a little problem. But, if it was a long time ago, good on him. This is a WORLD HEALTH ISSUE, and this bio-tech firm has the magic pill. Pretty cool, huh? And, Rumsfeld wanted to get out, but was advised to stay for fear of SEC violations. Talk about damned if you do, damned if you don't. And, didn't the article say his shares we're worth between 5 and 25 mil? Just like the liberal media, you sensationalize EVERYTHING. Link to comment Share on other sites More sharing options...
|Lucid| Posted November 2, 2005 Report Share Posted November 2, 2005 [quote name='Kool Keith' post='180336' date='Nov 2 2005, 02:09 AM']And? How long has Rumsfeld had the shares? That's what I want to know. If he bought in 3 weeks ago...there might be a little problem. But, if it was a long time ago, good on him. This is a WORLD HEALTH ISSUE, and this bio-tech firm has the magic pill. Pretty cool, huh? And, Rumsfeld wanted to get out, but was advised to stay for fear of SEC violations. Talk about damned if you do, damned if you don't. And, didn't the article say his shares we're worth between 5 and 25 mil? Just like the liberal media, you sensationalize EVERYTHING.[/quote] I don't buy that he was concerned of SEC issues... If you sell the stock before it goes [b]UP[/b].. You don't get prosecuted... It's when you sell right before it goes [b]DOWN[/b] that gets you into trouble. I don't think it's acceptrable for the government to hand out contracts to companies that senior staff members have major investment in.. It just isn't proper... And even if that was not a consideration in one bit it at least looks bad... Sometimes just doing things that look corrupt can be bad for government. He should absolve himself of stock if the governement decides to give them the contract. I wouldn't like it if a Dem was involved.. And you wouldn't either... At least be honest and admit that. Link to comment Share on other sites More sharing options...
-Dan_Bengals_FL- Posted November 2, 2005 Report Share Posted November 2, 2005 [quote name='BlackJesus' post='180308' date='Nov 1 2005, 11:00 PM'][color="#990000"][b]You can not make this shit up !!!! First Cheney and Haliburton and now Rumsfeld and Tamiflu ..... (this is by fortune magazine by the way --- a Right wing magazine) ..... Oh yeah and today [u]Bush announced that he wanted to spend 1 Billion dollars to purchase - You guessed it = Tamiflu[/u] [/b][/color] [/quote] I can't wait to tell this to my friend. We were watching Bush's announcement on the news yesterday, and I said watch Bush have some connections to make money off the birdflu. He laughed and said nah that would be too crazy. Welcome to the world of craziness, where conspiracy theories actually come true. Link to comment Share on other sites More sharing options...
Chris Henrys Dealer Posted November 2, 2005 Report Share Posted November 2, 2005 [quote name='Lucid' post='180340' date='Nov 2 2005, 02:46 AM']I don't buy that he was concerned of SEC issues... If you sell the stock before it goes [b]UP[/b].. You don't get prosecuted... It's when you sell right before it goes [b]DOWN[/b] that gets you into trouble.[/quote] The SEC looks more at the timing of transactions than the profit or loss....and whether you were privy to any inside information. For example, I can't remember the name exactly..they might even not exist anymore but ...some Hedge fund trading group was fined years ago because it bought Stelco (a steel manufacturer) bonds before an announcement by the company. It later emerged that the fund was aware through a company source that Stelco would not be able to pay the interest on it's outstanding bonds. It would be in default and be able to be pushed into bankruptcy. So they bought about $150 million worth of bonds before the announcement...Stelco announces the news that they are in default....the bonds that are worth $150 million, now plummet in value to around $50 million. But, when a company goes into default, the first people who must be paid are the bond holders...so in most cases they can take control of the company. This was a move by the Fund to take a paper loss of $100 million, but end up controlling a company worth billions of dollars afterwards. the fact that they had benefited from information before it was made accessible to the public got them into trouble. Even though they had suffered losses of $100 million. Going back to Rummy, the issue here would be when he bought the shares...for example, if he added to his position just weeks ago...and then all of a sudden the decision is made to place on order for $1 billion with the company...then alarm bells would be ringing. Going by the article...the fact that he's been off the board of directors since 2001, the fact that he hasn't altered his position in the stock over the years probably protects himself from any prosecution or accusation of wrong doing. Now if Michael Moore can prove that there was still communication between the Rumsfeld and the company over the last couple of years...or that members of this administration have secret accounts in Swtizerland, Monaco and the Turks & Caicos islands that have been buying these stocks aggresively over the last few weeks...well then... Link to comment Share on other sites More sharing options...
|Lucid| Posted November 2, 2005 Report Share Posted November 2, 2005 Sorry but you have to admit that it looks awfully odd that first Halliburton (whom Cheney worked for and owns mass stock in) gets a no bid gvmnt contract.. And now Rummies old company (that he also owns mass stock in) is going to get a huge govmt contract... Sorry, but I think it smells kinda funny. Link to comment Share on other sites More sharing options...
Chris Henrys Dealer Posted November 2, 2005 Report Share Posted November 2, 2005 Oh, I wasn't trying to make any statement as to the ethics behind the whole thing or the coincedences...was just noting that from a SEC standpoint, he's probably considered clean. Link to comment Share on other sites More sharing options...
Guest Bengal_Smoov Posted November 2, 2005 Report Share Posted November 2, 2005 [quote name='Lucid' post='180383' date='Nov 2 2005, 09:39 AM']Sorry but you have to admit that it looks awfully odd that [b]first Halliburton (whom Cheney worked for and owns mass stock in) gets a no bid gvmnt contract.. And now Rummies old company (that he also owns mass stock in) is going to get a huge govmt contract[/b]... Sorry, but I think it smells kinda funny.[/quote] It's sinks up to the high heavens, this is cronisim at it's finest. If you think it's a coincedence that Rumsfeld just happened to own a major stake in company that the government gives a no-bid multi-million dollar contract to then you need to wake up. [quote]Rumsfeld isn't the only political heavyweight benefiting from demand for Tamiflu, which is manufactured and marketed by Swiss pharma giant Roche. (Gilead receives a royalty from Roche equaling about 10% of sales.) Former Secretary of State George Shultz, who is on Gilead's board, has sold more than $7 million worth of Gilead since the beginning of 2005. Another board member is the wife of former California Gov. Pete Wilson. "[b]I don't know of any biotech company that's so politically well-connected[/b]," says analyst Andrew McDonald of Think Equity Partners in San Francisco. What's more, the federal government is emerging as one of the world's biggest customers for Tamiflu. In July, the Pentagon ordered $58 million worth of the treatment for U.S. troops around the world, and Congress is considering a multi-billion dollar purchase. Roche expects 2005 sales for Tamiflu to be about $1 billion, compared with $258 million in 2004[/quote] So Rumsfeld who is in charge of the Pentagon orders $58 million dollars worth of product from a company that he's a major stockholder of, making himself richer in the process. You think he didn't know what he was doing? Also anytime you see the wife of so-so on the board, the wife is basically acting as the proxy for that person. For example Dick Cheney's wife is on the board of Haliburton, what has she done in professional career that would justify her to have that position besides marry with Dick Cheney? Nothing. Cheney couldn't be the vp of the USA and be on the board of the company who recieved well over a billion dollars in NO-BID CONTRACTS from the same government of WHICH HE WORKS FOR. It's a shame that the highest officials in this administration are greedy fucks who will sacrifice American lives to make themselves richer and the worst part is the Republicians are standing by and letting them get away with it. Link to comment Share on other sites More sharing options...
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