:: ::

:: MAX BLACK ::

"Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience." --C.S. Lewis

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:: Sunday, September 19, 2004 ::

---Updated---

Redstone Dumps Viacom Stock

Thomas Lifson is reporting Sumner Redstone exercised stock options and sold 341,500 shares of Viacom on September 14th, the day RatherGate exploded in CBS's face. Here's the American Thinker article with links to the original blogger who uncovered the details of the stock sale [>]

Update: This story is not true. Here's the update from Powerline:

"Hopefully you guys won't fall for this b/s story. Perhaps you are the sole voice of the blogosphere that can try to stop this b/s story that Sumner Redstone, CEO of Viacom sold 300,000 plus shares of stock with a link to an SEC filing to prove it. What they are seeing is a paper transaction of a stock option being exercised, which is the paper sale of some shares at $35 to cover the lower cost ($15) of the option shares. There was no actual sale of shares, no cash gain, and Redstone will not have to pay taxes as a result of exercising his stock option, which is a common practice in corporate America. The reason for the SEC filing is that he is on the Board of Directors of Viacom... The entire blogosphere is going to have egg on their faces once the MSM gets hold of this, and they will, to say nothing of what CBS and 60 Minutes will do to us. Maybe your voice and a post can stop this suicidal mania on the blogosphere regarding a stock option exercise...

The Bloggosphere is self-correcting, unlike some sources I know.

:: Max 5:52 PM [+] ::
...