Ford Bronco Forum - View Single Post - got a settlement check in the mail
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post #26 of (permalink) Old 12-02-2011, 02:24 PM
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Join Date: Aug 2011
Location: Garfield, Wa
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Bronco Info: Hoofin' it in some Keens (stylin'!)
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Originally Posted by 79F150 View Post
I have company stock but its not my retirement. I doubt I would count on company stocks as retirement for that reason. I have hear about a lot of companies leaving employees broke. A couple coworks of mine talk about their spouses retirement working with delta being in the toilet for the same reason.
Yeah, it wasn't purchased stock, it was shared stock, and we were a privately owned company. The employees had 49%, the owner 51%. As older employees retired they would have their stock bought out and it was then divided among the rest of the employees. It was supposed to be all rolled over into a 401k within three years, but magically it didn't happen in time. At the last valuation (before the extreme screwing), my retirement was valued at just over $150k, not bad for a guy who was only 30 at the time.

Did I mention the owner was a lawyer? No shit. It's been over ten years and if I saw that bastard today I'd still beat his ass bloody... that's one grudge I just can't let go of.

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