About

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Andrew T. Gillies is Director of Communications at the Center for Audit Quality, an affiliate of the American Institute of CPAs, in Washington, DC. Based in Washington since 2002, he has also worked in editorial and communications roles at the Investment Company Institute, the World Bank, Forbes, and Vault.com. His policy-themed writing has focused on aerospace and defense, energy and environment, transportation, and financial services.

Monday, January 07, 2002

Inside Stories

Over the past six months insiders at chicken giant Tyson Foods have purchased 37,000 shares of their company, versus insider sales of 3,500 shares. John McMillin, Prudential Securities equity analyst, thinks the net buying reflects positively on Tyson's plans to acquire beef processor IBP. "Insiders clearly think the bet on IBP is a good one," he opines.

Wall Street hasn't shared in that optimism. At a recent $11 Tyson's stock is not much above book value and is well off a five–year peak of $26.


Full story (reg. required) at Forbes.com