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Thursday, April 01, 2010 7:33:17 PM
Back in 1986 I got laid off from Lockheed Martin, a company that has annual sales in the billions and a good profit margin.
You know what I got?
I got 2 weeks notice that I would be out of a job and the offer of some clerical assistance to polish up my resume.
There was unemployment wages to be had if it went that far.
Now along comes a bunch of guys, and yeah maybe the sun shines out of their butt, working for a start up company, ladened with debt, and no sales and they negotiate a multi YEAR severance packages totaling what $2 million to $6 million dollars??!!
WIth what money are these packages going to be paid??!!!
Out of what profits??!!!
Get a life guys.
Drop the law suits and the ridiculous severance packages and move on with your life.
I'm not saying everyone that worked there was treated right.
I know the close the doors; now open the doors again with an oil deal, and whoops you guys are not in your chairs was an underhanded way of doing business, and a hell of a chickenshit way of letting people go.
But the fact is that in the real world, at large companies that have billions of dollars in revenues, these huge severance packages are not offered.
How in the hell do you expect a start up company that is in millions of dollars of debt to pay these ridiculous severance packages?
These debts look awful on the books, and have to be a major turn off to any remotely considering investing in this company.
Keep 3 million shares, give the rest back, and cancel the severance packages, get real.
That is your best chance of making some real money of this deal.
Or are you just too stupid to realize that?
I guess so cause the last Quarterly didn't lie.
In order to win, you must be willing to fold.
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