Gm's Stempel Sells A Slice Of His Stake
When the going gets tough, do the tough sell stock? General Motors is set to report a third-quarter loss near $845 million, and its board wants Chairman Robert Stempel to speed up the restructuring.
The stress may be showing: In October, Stempel was hospitalized for high blood pressure. And here may be another straw in the wind: Stempel has unloaded some of his GM stock. In August, he sold 6,000 of his 15,000 Class-E shares, which reflect the performance of EDS, GM's computer-services unit. Stempel still holds about 49,000 shares of GM common.