Martin Bronstine worked for Joe Nacchio before old Joe got himself indicted 42 times for insider trading. He left a comment on my previous post that I thought deserved the spotlight of its own post:
"As an ex US West/Qwest employee I hope Joe gets as fair a shake as he gave us. Just before he laid us off, he froze our ability to buy or sell our own stock because that would be insider trading and at the same time he received millions and millions of stock options for his great job building Qwest into the hole it found itself. He traded the stock the same day he got the option and made millions while we employees found our company stock drop to about $1 per share. To show how magnificent an employer he was, when he had us managers working 12 to 20 hours a day breaking the strike of the union employees, he gave us a bonus. He granted us 100 stock options at about $35 per share. Nice bargain when we could go down the street and buy them on the open market for about $1. Such a guy. The stress of the whole mess made me sick and because of that, Joe had me laid off. I haven’t been able to get a job now for 20 months. My 401 is all used up and I was forced to go into early retirement which pays me enough to pay my mortgage and have $30 left over for health insurance (which costs me over $2100 per month and runs out Jan 1st) buy all my drugs for my diabetes etc, purchase food and plan my vacation. I only hope Joe ends up in the same condition as I am in now He deserves nothing less or more. "
Thanks for sharing this Martin. And may the New year bring you and Joe both the reversal of forunes you deserve.
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