A lot of distaste for the “rich” on this board. I can only offer one personal experience.
I was screwed out of about $120,000 to $400,000 depending on the value of the particular stock today.
I used to work for a computer appliance startup several years ago. I was one of about 50 employees. I worked for them for two years. There were times when I worked three days straight with about 3 hours sleep one night and another 3 hours sleep the second night. I worked at least 60+ hours per week to help that company be successful. One day upper management began forcing about 16 of us out of the company. I had never had a black mark on my record from anywhere I have worked during the last 30 years.
Six months later the company announced they were being bought by a big fish. I had vested 80,000 shares of common stock. But the Board of Directors of the company I used to work for voted that common shareholders such as myself and the other 15 ex-employees would get nothing, ZERO, from the buyout deal. The BofD voted that only PREFERRED shareholders such as themselves would get paid anything. I exercised my option to buy my vested shares right before I left the company.
I helped those assholes. They were already rich. They just didn’t want anyone else to move up the ladder with them. Those are the only rich people I know. Bunch of scumbags.
