THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Friday, August 11, 1995 TAG: 9508110293
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
SOURCE: (Bloomberg Business News)
LENGTH: Short : 24 lines
Some James River Corp. executives didn't wait to see how high the company's shares would go after it cut jobs and searched for a new chief executive: They sold about $24 million in stock in the past two weeks.
Seven James River executives, led by Chairman Bob Williams' 44 percent reduction in holdings, sold more than 700,000 shares in the company, which makes Dixie cups and plates and Brawny paper towels.
The stock closed at a six-year high of 36 on Aug. 3. It climbed 28 percent on July 28, the day the company said it will cut 4,400 jobs and was getting close to hiring a CEO to replace Williams in that post. by CNB