Another Blow for Airbus: 'Massive insider trading' at EADS

[Matt Molnar]

'Massive insider trading' at EADS (http://www.cnn.com/2007/BUSINESS/10/03/eads.france.ap/index.html)

PARIS, France (AP) -- A lengthy probe by French regulators suggests "massive insider trading" took place at Airbus parent EADS, judicial officials said Wednesday.

Current EADS Chief Executive Louis Gallois played down the findings, calling them preliminary. If confirmed, however, it would be yet another blow to the Franco-German consortium whose planemaker Airbus has been struggling against U.S. rival Boeing.

Preliminary findings were forwarded by the Financial Markets Authority to Paris prosecutors because "the law requires us to do this once the facts are likely to be qualified as criminal," a spokeswoman for the regulator said. More... (http://www.cnn.com/2007/BUSINESS/10/03/eads.france.ap/index.html)

[stuart schechter]

HAHAHAHAHA, just another blow to Airbus. I mean really, they can't have this much bad luck.

[Matt Molnar]

Charges of insider trading at EADS stir outrage in France (http://www.iht.com/articles/2007/10/04/business/eads.php)
By Nicola Clark and Katrin Bennhold
Published: October 4, 2007

PARIS: The leak of an official report detailing suspicions of widespread insider trading at EADS - with possible collusion by government officials - triggered paroxysms of recrimination across France on Thursday, even before any formal charges.

The front page of the conservative newspaper Le Figaro described the French market regulator's revelations as a "shock wave," while the business daily La Tribune and the popular Le Parisien tabloid warned that all the ingredients were in place for the scandal to become an "affair of state."

The dramatic plot line of this unfolding saga, involving the parent of the plane maker Airbus would be gripping enough anywhere, with a cast of characters drawn from the financial and political elite of Europe and with astronomical sums of money involved in developing and selling aircraft and weapons systems. But the as-yet unproved disclosures of suspect share trades while the state shareholder turned a blind eye to an industrial crisis, conform to a view that many French already have: of a national corporate culture that is inherently corrupt and where capitalism serves the interests of a well-connected few at the expense of rank-and-file employees and credulous pensioners. More... (http://www.iht.com/articles/2007/10/04/business/eads.php)

[hiss srq]

Funny how they were trying to blow the heat off by claiming more illeagal funding for Boeing a few days ago . Such hypocrits. This brings glee and joy to my heart. :borat: :borat: :borat:

Take that!