Hess Corp.’s Chief Executive Officer John Hess offloaded US$85 million worth of stock in the first quarter, marking his largest quarterly sale since 2011, according to Bloomberg calculations based on regulatory filings. Meanwhile, Marathon Oil Corp. CEO Lee Tillman sold US$34.3 million. All told for the period, more U.S. energy executives sold rather than bought stock in their companies than at any time since 2012, according to VerityData, which advises institutional investors.
The bulk of billionaire Hess’s selling was from a charitable trust of which he is a trustee, according to the filings. The trust was set up by Leon Hess, John’s father and the company’s founder. A spokeswoman for Hess declined to comment. “Historically, oil executives are really good at getting maximum value from selling stock at the right time,” Ben Silverman, head of research at VerityData, said in an interview. “The message is that the cycle here isn’t going to be a long one.”
Your profiteering from a critical infrastructure that’s poorly managed utilizing public funding while squeezing the population instead of supporting them
Blood money
Headline should read 'Corporate Greed pushing Inflation Higher'.
And just like that. They’re richer and we suffer with inflation
Time for the class war to restart as a two sided affair rather than as a one sided sabotage Living wages pegged to productivity, dignity at work and social mobility Mass mobilization, general strikes and direct action ftw Kick them in the capitalism until they beg for mercy