[richlevy]

This article is interesting.

GM Halts Stock Trading by Top Executives By DEE-ANN DURBIN, AP Auto Writer

DETROIT - General Motors Corp. has forbidden senior executives and other employees with access to internal financial information from buying or selling company stock indefinitely, a spokeswoman for the automaker said Monday.

GM spokeswoman Toni Simonetti said a memo was sent to senior executives May 24 barring them and some of their employees from buying or selling stock. Simonetti said she didn't know how many people were affected, but the company has about 400 senior executives.

Simonetti said GM regularly has blackout periods when employees aren't supposed to buy or sell shares, such as before quarterly earnings announcements. But this one is unusual because it's indefinite and was put in place because the company has declined to update its full-year earnings forecast since April.

"What's notable in this one is that it's been mandated right now because of the lack of financial guidance in the public domain," Simonetti said.

Simonetti said the ban will be lifted when GM's legal advisers feel it's appropriate to start trading again.

"I suspect that would be at a time when we are getting back to a routine environment here," she said.

At least this is a reverse-Enron, with senior management locked out and the rank-and-file able to bail if they want.