Company buyout

[HRMaddie]

My company announced this morning we were getting bought out. Management says nothing to worry about no one is getting laid off, yeah right. I have been through this before on both sides, lies is the name of this game. If management wants to sell the company fine, but don't lie to the employees about their future. Now there is the chance that they are not lying, but I doubt it.

Odd occurence, stock shot up $3 yesterday, when the announcement wasn't made until after close yesterday. Somebody leaked something.

The CEO was granted some shares two months ago, gee that is odd, like he didn't know about this going on then? I will say this, he did turn the company around like gangbusters. I should have seen the writing on the wall, couple of years ago someone told me the CEO would sell the company once he got it turned around.

There are going to be some extremely wealthy people from this sale. Certain individuals have been getting stock grants over the last two years (this is all public knowledge, SEC requirements). Something like this does not happen overnight, and the last couple of stock grants should be looked at by the SEC, but they probably won't.

Just ranting.

[mcbit]

Hey man that's life! I've forgotten how many times its happened to me!

Still the empathy is there!

[BJ_M]

any last minute stock transactions by directors or senior executives or major share holders will have to be reported .. they look VERY carefully at those things ..

sometime stock prices go up just on rumor .. and possibly the purchase was known BEFORE the employees were told

[hudsonf]

If they need one Martha can recommend a good lawyer.

[BJ_M]

not that good - she went to jail

[hudsonf]

She's just resting before she does the Apprentice.

[HRMaddie]

Yep such is life. The whole transaction won't affect me, I am leaving the company anyway. Maybe now I can get a severance package, that would be nice, but I doubt it, since they know when I am leaving.