Neeleman Unloads 2.5 mil shares

[chucky]

JetBlue co-founder and former CEO unloads 2.5 million shares

By JOHN WILLEN
Associated Press
Posted June 1 2007, 10:50 AM EDT

NEW YORK -- David Neeleman, who was removed from his post as JetBlue chief executive by the company's board last month, sold 2.5 million JetBlue shares, or 23.2 percent of his holdings, the first time the airline's founder and chairman has ever sold company stock.

The open market sale took place on Tuesday. Neeleman fetched $10.87 a share, or nearly $27.2 million.

JetBlue did not make Neeleman available for comment.

"This was David making some personal decisions for his personal financial goals,'' JetBlue spokesman Bryan Baldwin said. "He's still very involved in JetBlue and has confidence in the company.''

Story

 

[a320av8r]

JetBlue co-founder and former CEO unloads 2.5 million shares

By JOHN WILLEN
Associated Press
Posted June 1 2007, 10:50 AM EDT

NEW YORK -- David Neeleman, who was removed from his post as JetBlue chief executive by the company's board last month, sold 2.5 million JetBlue shares, or 23.2 percent of his holdings, the first time the airline's founder and chairman has ever sold company stock.

The open market sale took place on Tuesday. Neeleman fetched $10.87 a share, or nearly $27.2 million.

JetBlue did not make Neeleman available for comment.

"This was David making some personal decisions for his personal financial goals,'' JetBlue spokesman Bryan Baldwin said. "He's still very involved in JetBlue and has confidence in the company.''

Story

Just not in it's ability to make him money...
Same old, same old...

 

[justaumechanic]

Smart Man..

Get kicked out by the board, sell shares and make money.

A cool 25 million.. Sounds nice..

How much do you think Dave Barger has made over the years? He hasn't been bashful about selling his stock..

 

[NewHampshire Black Bears]

The beginning of the end

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Interesting thought Piney.

With Qtr-2, closing in a mere 4 weeks, it will definitely make B6's $$numbers a VERY INTERESTING read !!

NH/BB's

 

[Bulscu]

The beginning of the end

The end of the beginning.

 

[FA Mikey]

NEW YORK (Reuters) -- Billionaire investor George Soros and David Neeleman, two men who helped launch No. 8 U.S. airline JetBlue Airways Corp., are selling portions of their holdings in the company, according to regulatory filings.

Soros reported in a U.S. Securities and Exchange Commission filing late Monday that he had sold about 1 million shares of JetBlue (Charts), bringing his stake down to about 10.8 percent of the discount airline.

Soros' sale came the same week as Neeleman, the company's chairman, who sold almost one-quarter of his holdings in the company, according to a separate filing Friday.

JetBlue removed Neeleman as chief executive from the company earlier in May.

"The recent sales by Soros and Chairman David Neeleman represent a strong bearish signal for JetBlue," said Ben Silverman, director of research at filing tracking site InsiderScore.com.

"Two long-term and committed shareholders taking money off the table with the stock down significantly from its January high and during a time of overall bearish sentiment towards the airline industry ... does not send investors a positive message."

JetBlue lost money for the first time in the fourth quarter of 2005 and has struggled since.