A lot of people at Shearson ended up making a lot of money because they had stock or stock options. Their kids were able to go to college, and it changed a lot of people's lives.
One of the best programmers I ever hired had only a High School degree; he's produced a lot of great software, has his own news group, and made enough in stock options to buy his own nightclub.
The depths of the Depression. You didn't ask what the job was, what the pay was, you didn't ask about stock options, or - you said yes
Software-industry battles are fought by highly paid and out-of-shape nerds furiously pounding computer keyboards while they guzzle diet Coke. The stakes aren't very dramatic. Life? Liberty? The pursuit of happiness? Nope, it's about stock options.
Black-Scholes is a know-nothing system. If you know nothing about value - only price - then Black-Scholes is a pretty good guess at what a 90-day option might be worth. But the minute you get into longer periods of time, it's crazy to get into Black-Scholes. For example, at Costco we issued stock options with strike prices of $30 and $60, and Black-Scholes valued the $60 ones higher. This is insane.
If you work for Google or Apple, stock options give you a chance to share in the increasing value of the company. In the N.F.L., nothing like this happens; the players, though rich, are just working stiffs like the rest of us.
Successful trading depends on the 3M`s - Mind, Method and Money. Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets. Each trader needs to have a method for choosing specific stocks, options or futures as well as firm rules for pulling the trigger - deciding when to buy and sell. Money refers to how you manage your trading capital.
Many stock options in the corporate world have worked in exactly that fashion: they have gained in value simply because management retained earnings, not because it did well with the capital in its hands.
As for the employees, the payment in stock options revives, somewhat ironically, the old anarchist ideology of self-management of the company, as they are co-owners, co-producers, and co-managers of the firm.
If bankers can push the loans and make more profits for the bank, they get paid higher bonuses. They often also get stock options. If the bank goes under, they get to keep all of these salaries and options - and the government will bail out the bank. These guys will take their money and run, which is pretty much what they're doing now.
We believe the super stock option will become a reality before the end of 2000, ... It's a good idea whose time has come.
It is far better to keep the enemy close, by bribing him with stock options, than to have him out in the wild, foraging.
In confusing stock options with ownership, corporations confuse trappings with substance.
Quoting Demosthenes, 'For what each man wishes, that he also believes to be true.' I would rather make money playing a piano in a whorehouse than arguing that no cost is incurred when employees are paid in stock options instead of cash. I am not kidding.
Ed Woolard, his mentor on the Apple board, pressed Jobs for more than two years to drop the interim in front of his CEO title. Not only was Jobs refusing to commit himself, but he was baffling everyone by taking only $1 a year in pay and no stock options. I make 50 cents for showing up, he liked to joke, and the other 50 cents is based on performance.
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