Sirius Sattelitte Radio ( SIRI ) is up big this morning to $1.51 after the CEO Mel Karmazin bought 1 Million shares August 4th, 2008 at $1.37 per share. Mell now has a total of 8.5 million shares of SIRI.
Keep in mind, there are 1.5 billion shares outstanding so while this is positive.....3 million dollars is nothing to Mel.
I personally think he hasn't done a good job....ever since he has come, the stock price has sunk....he has been promising cash flow positive, this and that, but the stock has sunk from $9 to almost $1. Imagine Apple going from $180 down to $20.....would you still think Steve Jobs did a good job at Apple ( AAPL )?