Reason Why Stephanie McMahon is Selling Her WWE Stock
According to the New York Post, Stephanie has cashed in $8.3 million in stocks for "personal financial purposes," which include building a house.
http://nypost.com/2013/10/10/stephanie-mcmahon-cashes-in-wwe-stock-to-pay-for-house/
WWE Issues a Statement Regarding Michael Hayes
PWInsider.com asked the WWE about is status. They were told the following: "Michael is taking a leave of absence for personal reasons."
Credit PWInsider.com
AJ Styles Biography Release Date Held Back
The biography has been held back due to copyrighting issues, waiting to conduct a few more interviews, and also waiting on his match for the title at "Bound For Glory."
Credit PWInsider.com
Highspots Releases Extended Preview of their Shoot Interview with Jesse Sorensen
He talks about his injury in this clip.
http://www.youtube.com/watch?v=gjzMrwDBpDU
According to the New York Post, Stephanie has cashed in $8.3 million in stocks for "personal financial purposes," which include building a house.
http://nypost.com/2013/10/10/stephanie-mcmahon-cashes-in-wwe-stock-to-pay-for-house/
WWE Issues a Statement Regarding Michael Hayes
PWInsider.com asked the WWE about is status. They were told the following: "Michael is taking a leave of absence for personal reasons."
Credit PWInsider.com
AJ Styles Biography Release Date Held Back
The biography has been held back due to copyrighting issues, waiting to conduct a few more interviews, and also waiting on his match for the title at "Bound For Glory."
Credit PWInsider.com
Highspots Releases Extended Preview of their Shoot Interview with Jesse Sorensen
He talks about his injury in this clip.
http://www.youtube.com/watch?v=gjzMrwDBpDU
This has nothing to do with the update but I didn't feel like being productive at work today so I came up with this instead. I have been saying on the blog that Randy Orton needs to go full on Patrick Bateman and it got me to wondering, what would Bateman's confession speech look like if done by Randy Orton? For comparison sake I posted one beneath the other. Enjoy, (or downvote...whatever)
ReplyDeleteHoward, it's Bateman, Patrick Bateman. You're my lawyer so I think you
should know: I've killed a lot of people. Some girls in the apartment
uptown uh, some homeless people maybe 5 or 10 um an NYU girl I met in
Central Park. I left her in a parking lot behind some donut shop. I
killed Bethany, my old girlfriend, with a nail gun, and some man uh some
old faggot with a dog last week. I killed another girl with a chainsaw,
I had to, she almost got away and uh someone else there I can't
remember maybe a model, but she's dead too. And Paul Allen. I killed
Paul Allen with an axe in the face, his body is dissolving in a bathtub
in Hell's Kitchen. I don't want to leave anything out here. I guess I've
killed maybe 20 people, maybe 40. I have tapes of a lot of it, uh some
of the girls have seen the tapes. I even, um... I ate some of their
brains, and I tried to cook a little. Tonight I, uh, I just had to kill a
LOT of people. And I'm not sure I'm gonna get away with it this time. I
guess I'll uh, I mean, ah, I guess I'm a pretty uh, I mean I guess I'm a
pretty sick guy. So, if you get back tomorrow, I may show up at Harry's
Bar, so you know, keep your eyes open.
Triple H it's Orton.
Randy Orton. You're the COO so I think you should know. I have RKO'd a lot
of people. Some divas in the apartment uptown uh, some jobbers to the
stars maybe 5 or 10 um an RVD guy who smokes weed in Central Park. I
left him in the parking lot behind the ECW arena. I RKO'd Daniel Bryan,
in front of his girlfriend, on a table, and some man uh some old faggot
with a sock last week.. I RKO'd another guy with some gold makeup, I had
to, he almost got the pin, and us someone else that I can't remember
maybe a Miz, but he's RKO'd too. And John Cena. I RKO'd John Cena on the
floor on a chair, his body is quickly recovering for Hell in the Cell. I
don't want to leave anything out here. I guess I've RKO'd maybe 20
people, maybe 40. I have a 3 Set DVD of a lot of it, uh some of the fans
have seen the DVD. I even, um, I DDT'd some of their brains and I posed
on the turnbuckle a little. Tonight I, uh just had to RKO a LOT of
people. And I'm not sure I'm gonna get over with it this time. I guess
I'll uh, I mean, ah, I guess I'm a pretty uh, I mean I guess I'm a
pretty sick guy. So if you and Steph get back tomorrow, I may show up
on Raw, so you know, keep the title vacant.
Steph: All I got from the article is she's 37. Makes sense, but it's still a disconnect for me.
ReplyDeleteHayes: "Go ahead Michael, go get whatever Freebird is left in you out. Then come back and STOP FUCKING UP!"
Styles: I shall resist the easy "Rednecks and Reading" joke.
Sorensen: Still one of the scummiest things TNA's done (along with their treatment of Zema Ion).
Just a quick aside. No matter what Stephanie is actually using the money for, she can't say anything due to potential SEC violations. The story smacks of prime, grade A BS for multiple reasons. Building/buying a house worth 8 million? Really? The couple doesn't have alternate assets that aren't WWE stock which the McMahons believe is super undervalued at present? There are others but those are the most obvious.
ReplyDeleteSelling for "alternate uses of cash" and then making a flashy use of cash is one of the SEC workarounds to hide the actual reason for a sale of large quantities of stock. So really her true reason has to be considered up in the air unless the combined fortunes of HHH/Stephanie are considerably smaller than anyone has been led to believe. And I personally don't buy that for a second.
The article says the reasons "include building a house". Nowhere does it say or imply that all 8 million are going into buying a house.
ReplyDeleteNot that I really care what Stephanie does with her money, but the parts of CT near NYC has some of the most expensive real estate in the country. One home in Greenwich, CT is listed for 190 million. There are homes in NYC itself that list for tens of millions of dollars.
While 8 million for a home is a lot of money and may be a foolish way to spend money, it is not completely outside the realm of possibility. And again, nowhere does the article state that all 8 million are being used to buy a home. The McMahons kind of strike me as the type who would prefer something flashy and showy.
In a related story, Dixie Carter has been liquidating her shares in TNA to help fund her dream home in The Sims 2.
ReplyDeleteWhich is why I'm saying you can't read anything into it. Building a house yourself does not cost that much money even in the best areas of CT unless you're building a Scottish castle on that land. The point I'm making is that selling "for cash" then making a flashy use of cash (whether the two sides add up or not) is a way to get around any potential SEC violations.
ReplyDeleteAs an insider (and she's the inside-est of insiders) virtually any move you make with your stock gets the SEC's attention especially if you've made 43 scheduled sales in a relatively short period of time. There's nothing she can say business wise that wouldn't get her into trouble other than selling for cash. If she says "I'm selling my voting shares to my father" that prompts questions and is a possible violation depending on timing/board purposes. But on the other hand if she says "I'm converting my voting shares to general to break up power" that also could be a violation depending on timing and purpose. The SEC as an organization has way too much power; if you actually read up on what they have the power to do it's pretty shocking. The way the law is written, any transaction can be investigated at any time for any reason including "because we don't like the way this looks". The average American just lets them do as they please because the people they pick on are "the bad guys" or "the corporate fat cats" so nobody cares.
As to why it's a big deal, it's not a HUGE deal given that she wasn't the primary owner but when a large publicly traded company has one of the major stockowners selling 43 times in a row while ownership is publicly complaining that the stock is brutally undervalued given their future plans...that's a pretty large dissonance that requires an explanation.
I upvoted this in agreement with how TNA treated the whole Jesse Sorensen and Zema Ion situations. I've been following TNA on and off for years hoping they'd go on to better things but firing Sorenson and not helping with Zema's health problems has really turned me off TNA.
ReplyDeleteI got a hell of a lot of respect for Jesse Sorenson now after watching that clip. I really want to watch the rest of that interview now.
ReplyDeleteDamn I just read online that now Tammy Lynn Sytch is having a go about Michael Hayes offering Rosa Mendes alcohol just after she got out of rehab. Jeez when you got Sunny of all people saying you're a bad person you know you've really fucked up!
ReplyDeleteO/U on her getting perp walked?
ReplyDelete< 1%. Assuming they actually use the cash, the SEC probably won't bother taking them on. Not worth their time.
ReplyDeleteIt becomes worth their time if WWE stock goes directly into the toilet after announcing that the network is never going to happen. Since she would presumably be involved in that decision, that would be a fair disclosure violation and whether she actually knew about it or not she'd be in Martha Stewart's jail cell. Burden of proof in fair disclosure is small; you basically have to prove that you DIDN'T know to beat that charge. The fact that you made a big trade and then the price changed shortly after serves as proof against you on the government's side.
Or she could be in trouble if someone cooked the books and the company is cash poor overall and it looks like she's just getting out ahead of the news. That would trigger a Sarbanes-Oxley investigation and selling out in advance of SOX is a huge red flag.
Neither of those is going to happen though. She sold the stock and is (presumably) going to use (a portion of) the cash. Whether the transaction actually "means" anything or not she covered her tracks properly.
Thanks for ruining my fantasy of her getting dragged down the street kicking and screeching, or going into a roid rage and having to be tranquilizer darted by federal agents.
ReplyDeleteHaving her 9/11 speech out there again would also be a hoot.
Michael Hayes will be the latest victim of Triple H's new regime. He messed up big time.
ReplyDelete