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Even the Masseuse is a Multimillionaire at Google
PCOL writes "The NY Times is running a story on how stock options that have given an estimated 1,000 employees at Google a net worth of $5 million each affects the culture at Google. Google gives each of its new employees stock options, as well as a smaller number of shares of Google stock, as a recruiting incentive. The average options grant for a "Noogler" (new Google employee) who started a year ago was 685 shares at a price of roughly $475 a share which at last Friday's close would be worth $128,000. But employees say Google is different from other large high-tech companies where the day's stock price is a fixture on many people's computer screens. "It isn't considered 'Googley' to check the stock price," said one engineer adding that it is also considered unseemly to discuss the price with other employees. And the masseuse? In 1999 Bonnie Brown answered an ad for an in-house masseuse at Google "on a lark" and after five years of kneading engineers' backs, she retired, cashing in most of her stock options to travel the world, oversee a charitable foundation she founded, and write a book, still unpublished, titled "Giigle: How I Got Lucky Massaging Google.""
ccalam - acoustic versions of new songs.
The truth is that many people working at Google are still passionate about Google and what it stands for. Now, it doesn't really matter what that is exactly. In the minds of Google employees there is something special about working at Google. Perception is everytihng.
Also, keep in mind that the stock price keeps going up. This isn't just because Google is cooking the books. They appear to be legitimate financially. As long as this is the case, many people -- even the millionaires -- will stay on board. I predict that once Google takes a serious financial hit, many will bail out. Ideals be damned.
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With the treasury bill rates what they are, around 4 %, each million only brings in a guarantted $40K if you want to be safe and make sure you keep your nest egg. So 5 million is 200K per year - a nice income but hardly enough to finance an out of control rock and roll lifestyle.
Will that ever happen, though? Everyone's using Google these days (in fact, my free e-mail provider switched to the GMail system very recently- now I essentially have a Gmail account without actually having GMail).
OSx86 FTW
Dont get to greedy with the stock options, just before WorldCom went on its downward spiral some people were bragging about their options and what they were worth, some had been with the company for 10+ years, in the end they lost almost everything
People forget how to make money in stock. Buy low and sell high. They tend to hold when it's high thinking they are going to be richer.. I keep sell orders in and smile when they hit my prices. I sold a bunch 3 weeks ago and sold some more last week when it peaked. If the price dips enough, I'll buy back some at lower prices. Often I can increase my holding by 20% in a month this way, or pocket 20% of my holdings and wind up rebuying the same amount of my original shares. I love it when the market moves up and down. That is how to make money.
Don't forget.. Sell high!
The truth shall set you free!
I mean seriously, how the heck can you tell if a company is "low" or "high" within a 3 week period?
Ask aroung and look at the comments... Has anyone lately said Google is low? The general take is Google is high. The knowledge is "It is high". Use that to your advantage. It is high simply means there are tons of people who will bail when the bubble bursts. If you don't want to hold the bag when the massive sell-off starts, it is a good stock to not be holding.
If it is climbing, put in a sell order and smile when it hits it and sells. Put in some buy orders at $450, $ 400, $350, and $300. Catch some bargans when the investors bail like lemmings. Look at VMware over the last 3 months for a prime example. It was high last week. It went over $110 per share. When it started falling, lots of people tried to sell to take the money. The late ones are selling at below $90. Put in some buy orders at $80 and if you have some VMWare, put in some sell orders at $100 and see what happens. If you missed this sell-off, don't panic sell. Wait the next cycle. Buy at $80 and sell at $100.
The truth shall set you free!
If you think THAT's scandalous, check out this old Salon article about Wizards of the Coast. I'll give away part of the surprise: company camping trip turns orgy.