Israeli army chief sold stocks hours before war
-
Hmmmm..... no wonder Israelis did so badly? That's why I don't believe SAF generals should hold concurrent civilian appointments while still serving as professional soldiers.
Wednesday August 16, 9:11 AM
http://sg.news.yahoo.com/060816/1/42tc2.html
Israel's army chief Dan Halutz reportedly offloaded his stock portfolio hours before the Jewish state unleashed a massive offensive in Lebanon and the stock market tumbled.
According to the Maariv daily, Halutz sold the shares at noon on July 12, three hours after two soldiers were seized by Hezbollah in a cross-border raid and as Israeli artillery began to pound the positions of the Shiite militia in Lebanon, the paper said.
Israel's main TA-25 index slumped by 8.3 percent over two days from July 12.
Halutz confirmed that he sold his shares for 120,000 shekels (26,000 dollars) and said he lost 5,400 dollars in the transaction.
"It's true that I sold these shares at noon on July 12, but you can't link the transaction to the war. At that moment I did not think that there would be a war," Maariv quoted Halutz as saying.
A UN-brokered ceasefire went into effect on Monday after one-month of war in Lebanon but Israel's political and military leaders are facing criticism over the conduct of the offensive and calls for an inquiry.
Israeli media have blasted Halutz for his handling of the war and the lack of preparation by the military for the offensive, with some reports saying that troops lacked basic equipment, like flak jackets, upon being sent in.
Following Tuesday's report, lawmakers called on Halutz to step down and for Prosecutor General Menahem Mazuz to open an investigation.
"This marks a serious problem of priorities during a time when state security was in the balance," Colette Aviattal, a Labor MP, said, calling for Halutz to step down.
"The country was under fire and all that was important to him was his stock portfolio," he said.
Zevulon Orlev, from the right-wing National Religious Party, echoed the sentiment.
"During critical hours for a nation, one expects the chief of staff to be totally involved in the running of the war and not in personal questions of winnings or losses on the stock market," he said. -
Forget AWACS, just watch the stock markets of Malaysia and Indonesia. If certain people over there start selling their shares suddenly, time to get ready!!!
-
Haha! Thats a new way at seeing things!Originally posted by moca:Forget AWACS, just watch the stock markets of Malaysia and Indonesia. If certain people over there start selling their shares suddenly, time to get ready!!! 
-
such behaviour are common everywhere.
the only difference is whether they got caught doing it.
insider information ruling is BS. -
its sensible to sell the stock as tough actions will be expected in retaliation to the capture of the soldiers
-
Army chief is also a human and a human instinctive action is to safe guard oneself first. What to safe guard is individual preferences. This is only logical. It is just too bad that person happen to hold a key appointment else I tink there is nothing wrong with that
Now the concept of Universal Soldiers start to crept up maybe one should research in that area then those soldiers confirm won't before war starts start selling stocks and shares for safe guard cuz they have nothing to safe guard in the first place hehehehe.... -
confirm..he he~Originally posted by tankee1981:Haha! Thats a new way at seeing things! -
are they charging him for insider trading?
-
Comptroller to question Olmert and wife on alleged benefits in apartment deal
http://www.haaretz.com/hasen/spages/751449.html
Prime Minister Ehud Olmert and his wife, Aliza, will soon be summoned for questioning by the State Comptroller's Office on suspicion of receiving benefits worth some half a million dollars.
State Comptroller Micha Lindenstrauss is looking into suspicions that the Olmerts were given an exorbitant discount on the purchase price of a garden apartment on Jerusalem's Cremieux Street. According to these suspicions, Olmert's associates worked to help the contracting company that renovated the house to obtain unusual permits from the Jerusalem municipality. These permits significantly increased the profitability of the project.
The affair was first published on the NFC Internet site, run by journalist Yoav Yitzhak.
The Prime Minister's Office said in response that "the prime minister has not received any request from the comptroller's office."
The Olmerts bought a garden apartment at 8 Cremieux Street in Jerusalem in October 2004, for a price of $1.2 million. According to the comptroller's findings, however, the apartment's true value is between $1.6 million and $1.8 million. Thus at the time of the sale, Olmert apparently received a discount worth between $400,000 and $600,000.
The building in which Olmert's apartment is located was defined as a historic preservation site. The building covers an area of about 330 square meters, and the contractor who sold the apartment to Olmert wanted to expand the building to cover an area of about 750 square meters. In order to do this, however, he needed a permit from the Jerusalem municipality to tear down the existing building and build it anew.
According to the material gathered by the comptroller, Olmert's associates helped the contractor to obtain the necessary permits from the Jerusalem municipality, and in the end, another two apartments - in addition to Olmert's garden apartment - were built in that building. Yitzhak claimed in his NFC report that the company sold Olmert his apartment for $3,306 per square meter, but it is asking significantly more for the other apartments in that project.
The State Comptroller's Office believes that the evidence amassed to date justifies summoning Olmert and his wife for questioning. The Olmerts will probably be questioned by a team of investigators from the State Comptroller's Office and by a retired police officer, Major General Yaakov Borovsky, who serves as the comptroller's adviser in his war against corruption. Soon after the couple is questioned, the comptroller is expected to submit his findings to Attorney General Menachem Mazuz, so that the latter can decide whether to open a criminal investigation.
The Prime Minister's Office said in response: "The prime minister has not received any request from the comptroller's office. We have trouble believing that once again, the State Comptroller's Office has chosen to go to the media before going to the prime minister."
Associates of Olmert added that they were surprised by the comptroller's intention of summoning the prime minister's wife for questioning as well, since she does not hold any public office.
Olmert must be feeling the heat now... All things bad comes when you're at the lowest... hmmm... Karma actually exist. -
Just a few days back, I know a retired LG that sold his shares in the company which he held the position of a non executive chairman.
-
r we going to go to war?Originally posted by shade343:Just a few days back, I know a retired LG that sold his shares in the company which he held the position of a non executive chairman.