SunTrust banks sells the family silver

[Italkcash Newsfeed]

Sun Trust, the bank who listed The Coca cola company in 1919, has decided to sell there long position. SunTrust has sold 2bn$ shares in The Coca Cola company to cover losses in the subprime investment. The share that where acquired in 1919 and today pays more than 59 million dollars in dividend. This is what I would consider as a long position.

SunTrust bank is known to keep the Coca Cola formula in a safe deposit box in Atlanta.

The Doc