Thursday, June 18, 2009

Corus Bank Faces Deadline Today

by Calculated Risk on 6/18/2009 05:49:00 PM

No news yet on the June 18th deadline, but if you want to see some dumping ...

Corus faces a June 18 deadline from the Office of the Comptroller of the Currency to boost its capital levels or risk being put into conservatorship or receivership.
Robert J. Glickman, the former CEO of Corus Bankshares Inc., ran the bank for 35 years before stepping down in April. Now he is selling like crazy.

SC 13D/A SEC Filing June 9th:
On June 3, 2009 ... Robert Glickman disposed of 111,074 shares of Common Stock which he owned directly. On June 4, 2009, Robert Glickman disposed of 800,248 shares of Common Stock beneficially owned by him. On June 5, 2009, Robert Glickman disposed of 485,178 shares of Common Stock beneficially owned by him. On June 8, 2009, Robert Glickman disposed of 16,653 shares of Common Stock beneficially owned by him. ... The shares disposed of by Robert Glickman on June 3, 2009, June 4, 2009, June 5, 2009 and June 8, 2009 represent approximately 2.6% of the total issued and outstanding shares of the Company
SC 13D/A SEC Filing June 12th:
On June 9, 2009, Robert Glickman disposed of 14,126 shares of Common Stock beneficially owned by him. .... On June 10, 2009, Robert Glickman disposed of 391,879 shares of Common Stock beneficially owned by him. ... On June 11, 2009, Robert Glickman disposed of 752,714 shares of Common Stock beneficially owned by him. ... On June 12, 2009, Robert Glickman disposed of 970,123 shares of Common Stock beneficially owned by him.

The shares disposed of by Robert Glickman on June 9, 2009, June 10, 2009, June 11, 2009 and June 12, 2009 represent approximately 4.0% of the total issued and outstanding shares of the Company
SC 13D/A SEC Filing June 17th:
On June 15, 2009, Robert Glickman disposed of 390,498 shares of Common Stock beneficially owned by him. ... On June 16, 2009, Robert Glickman disposed of 334,691 shares of Common Stock beneficially owned by him. ...

The shares disposed of by Robert Glickman on June 15, 2009 and June 16, 2009 represent approximately 1.4% of the total issued and outstanding shares of the Company