Canadian Personal Finance Blog

Archive for December 29th, 2006

OK folks this is something a little too near and way too annoying to my heart. Evidently there is yet another brewing scandal at Apple computers (not that Apple has had a lot of scandal, just it is another scandal in the area of Corporate Options). This whole Option shell game that is played in the upper echelons of corporations sickens me to my lower intestines.

If you own stock in a corporation, read the yearly prospectus you get and see how many stock options the CEO, President and VP’s at that company get EVERY year (no matter whether the company is profitable or a dead piece of rotting skunk flesh). Take note of this, and wonder who is paying for this? You give up? YOU! As stock holder they are going to siphon off profits so that these fat cats get more money and you get the bill, isn’t that lovely?

I think I’d respect companies more that just gave cash bonuses at least they are being above board and there is no hiding. Stock options have been the “dirty little secret” in Corporations for years and it is only now that the stench has got too much even for the skunks at the top.

It was the one company that had stock options that were back dated 10 years even though they had been given out that year, they were completely vested at the price of the stock 10 years previous that made me violently ill (won’t mention name, since I think it is still only an allegation).

And this is only what we hear about folks, you’d be disgusted if you heard of what goes on, that we don’t know about! It really, really smells bad!!! –C8j