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#560426 - 08/12/08 06:14 PM Lyor Makes A Move
AbbeBigou
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Lyor sold 800,000 shares of WMG stock yesterday.
How do we interpret that?
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#560431 - 08/12/08 06:16 PM Re: Lyor Makes A Move [Re: AbbeBigou]
teverett
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...That somebody (who?) thought it was worth buying?
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#560434 - 08/12/08 06:22 PM Re: Lyor Makes A Move [Re: teverett]
nycbiscuit
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He's listening to analysts who downgraded it last week to a sell.

When E.F. Hutton talks...
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#560441 - 08/12/08 06:32 PM Re: Lyor Makes A Move [Re: nycbiscuit]
outahere
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Well maybe it was as simple as he needed some walkin' around money and didn't want to re-fi the beach house?
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#560458 - 08/12/08 07:12 PM Re: Lyor Makes A Move [Re: AbbeBigou]
DevilsAdvocate
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 Originally Posted By: AbbeBigou
Lyor sold 800,000 shares of WMG stock yesterday.
How do we interpret that?


Well, I like to interpret it as, "How much more would he have made if he sold two years ago?"
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#560478 - 08/12/08 08:07 PM Re: Lyor Makes A Move [Re: DevilsAdvocate]
Syncopat
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He got these 800,000 shares for free so looks to me like he needs some cash for a new house, a new jet or maybe he's buying a chain of kibbutz
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#560511 - 08/12/08 09:33 PM Re: Lyor Makes A Move [Re: AbbeBigou]
stealth007
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Tom Whalley is going to win the shoot out....?
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#560602 - 08/13/08 04:40 AM Re: Lyor Makes A Move [Re: AbbeBigou]
kell
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 Originally Posted By: AbbeBigou
Lyor sold 800,000 shares of WMG stock yesterday.
How do we interpret that?


Great way to make a quick twenty grand in cash?
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#560614 - 08/13/08 08:52 AM Re: Lyor Makes A Move [Re: kell]
AbbeBigou
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Apparently Lyor would rather send out demoralizing signals to the staff and not even consider ring fencing the shares and paying some interest. The sale gave him 6.8 million and surprise the Hamptons tear down he just bought cost......6.8 million.

Warner Music Group chairman Lyor Cohen is spending $6.8 million for a teardown in the Hamptons. Sources say Cohen has just closed on the property in North Haven after a bidding war erupted for the bayfront home, which was listed at $5.5 million.

"Lyor was actually the second-highest bidder," says a source, "but the guy with the highest offer couldn't come up with the $7.2 million - and he also lost his $720,000 deposit."

The other guy couldn't come up with the cash but Lyor could.
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#560616 - 08/13/08 09:07 AM Re: Lyor Makes A Move [Re: kell]
johnnyboy
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He got $6.8 million and still has 2.6 million shares. Assuming that the guy's not hurting for cash, though, selling about 1/4 of his shares in the company that he runs sends a pretty clear picture, don'tcha think?
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