GM halts stock trading by top execs
General Motors says senior executives with access to internal financial information can no longer buy or sell company stock. The automaker also is limiting the disclosure of such information.
This comes after G-M decided to suspend profit guidance to Wall Street this spring. The ban is meant to keep anyone at G-M from inadvertently conducting illegal insider trading. It's unclear how many people the ban affects or how long it will last. G-M lost more than a billion dollars in the first quarter. The automaker says providing health coverage for workers and retirees was one of the major reasons for the huge loss.
Can you say ENRON???