If the nuclear reactors proposed for Cumbria are so safe, why has this CEO sold a million shares in his own company BEFORE AP1000 reactors in the USA have even been built?
The question of the day is what does Southern Company CEO Thomas Fanning know that the rest of the world doesn’t?
The question arises because on September 5th, Fanning sold nearly all his stock in Southern Company, more than a million shares, putting nearly $47 million into his bank account. He kept only 35,000 shares.
That’s a tidy sum, and would seem to be incentive enough to sell–unless one thought the stock would rise higher. It’s not like Fanning was selling off a few shares because he needed some cash to renew a country club membership or something. No, Fanning sold more than 90% of his stake in the company he runs. Not many people have pressing bills of $47 million.
And, after all, Southern Company has been telling Georgia regulators for…
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