Bush Harken Insider Trading Collection
let Bush fool you, he's as slimy a businessman as any that ran Enron.
Energy Corporation Internal Documents
October 31, 2002
documents the Center [for Public Integrity] has obtained do not unambiguously
resolve the question of what Bush knew about the sale of the Aloha subsidiary."
was told of risks before Bush stock sale
October 30, 2002
week before George W. Bush's now-famous sale of stock in Harken Energy
Corp. in 1990, Harken was warned by its lawyers that Bush and other
members of the troubled oil company's board faced possible insider trading
risks if they unloaded their shares."
invested heavily in Harken
October 30, 2002
then there was relatively little focus on one major reason for the loss:
Harvard Management's large and ill-timed bet on little-known Harken
Energy Co., whose board included George W. Bush, then the son of the
US president and now the president himself. Even as losses mounted,
Harvard Management bailed out the troubled company, first by splitting
up Harken and then by sheltering Harken's liabilities in a partnership"
Oil Firm Did Enron-Style Deal - Report
October 9, 2002
Bush's former oil firm formed a partnership with Harvard University
that concealed the company's financial woes and may have misled investors,
a student and alumni group said in a report on Wednesday."
Bush knew of Harken's problems
July 12, 2002
President Bush sold more than 200,000 shares in Harken Energy Corp.
in June 1990, he said he did not know the company was in bad financial
shape. But memos from the company show in great detail that he was apprised
of how badly the company's fortunes were failing before he sold his
stock -- and that he was warned by company lawyers against selling stock
based on insider information."
Don't do as I did. President's proposals would bar type of loans he got
from Harken Energy
July 11, 2002
Bush borrowed money from oil company Harken Energy Corp. while he was
a member of its board, a practice he condemned this week as part of
his plan to curb corporate abuse and fraud, the White House acknowledged
and Harken Energy
July 10, 2002
the law requires prompt disclosure of what are called insider sales,
or sales by senior executives, Mr Bush did not inform the securities
and exchange commission (SEC), the US market regulator, until 34 weeks
later. So technically Mr Bush was at fault."
and Lay: A Common Pattern of Stock Dumps?
February 2, 2002
June of 1990, Bush sold two-thirds of the Harken stock he had received
in the Spectrum 7 deal--and collected $318,430 more than it was worth
when he first obtained it. Get low, sell high? Anything wrong with that?
The month before this sale, Harken appointed Bush to a committee to
determine, as Ivins and Dubose put it, "how restructuring [of the
firm] would affect ordinary shareholders." According to Ivins and
Dubose, who note the previous reporting work of "U.S. News and
World Report," when Bush served on this committee, he was privy
to information indicating the company was in trouble. He then dumped
his stocks before this news became public. "U.S. News" concluded
that at the time of the sale there was "substantial evidence to
suggest that Bush knew Harken was in dire straits.""
Name Helps Fuel Oil Dealings
July 30, 1999
the end of September 1986, the deal was done. Harken assumed $3.1 million
in debts and swapped $2.2 million of its stock for a company that was
hemorrhaging money, though it had oil and gas reserves projected to
produce $4 million in future net revenue. Harken, a firm that liked
to attach itself to stars, had also acquired Bush, whom it used not
as an operating manager but as a high-profile board member."
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