posted Wed, 23 Nov 2005
My first job out of college, I worked for Prudential Insurance. At Thanksgiving and at Christmas, everyone got either a turkey or a ham. If you didn’t want either of those, you got $25.
When I worked at Ryder, if you didn’t want the Christmas turkey, you could have a gift certificate for a complete meal at Boston Market.
Cheap, cheap, cheap. But then, there is no money, is there? Unless we are buying corporate jets and paying raises to the CEO and the top executives who are the ones making the tough decisions to get rid of people and sell the company’s assets and profitable businesses so they can focus on the unprofitable ones in bad industry segments. They will continue to run them as they have been run for the past 50 years and then wonder why they don’t make money.
Yesterday at Consolidated Buggy Whips, someone dropped a coupon on my desk for a
Free Chick-fil-A Entrée Salad
with purchase of medium beverage
In related news, I finally read my severance agreement. Pretty reasonable, but I lose all my 8,000 stock options on my last day. This would be sad news if they were actually worth anything.
Their value as of today?
Some of the exercise prices are almost twice today’s stock price.
So I will exercise all my options (well, the few that are worth more than the paper they are printed on -- ha ha). After taxes and broker fees, I will come out maybe $800 ahead. If I had exercised them a year ago, I would have made several thousand dollars, but I didn’t need the cash and had no idea our CEO, who took a 14% raise right before the stock plummeted 35% (because his pay was lower than other CEO pay – yes, and CBW performance stank, too), could make this company do any worse.
Ah, I am so glad to be escaping.
The end of the line
1 year ago