Several of the responders, have already discovered one of the main problems, unknowingly.
That is , it never matters until it happens to you! They couldn't even imagine that it was them who was out of a job, and that guy in Mexico or Afghanistan or India, was able to feed his family {at least for a short while} as their family starts their journey into poverty.
No one has mentioned this aspect but I have quite a bit of personal experience with it.
About 30 or 40 years ago the big thing was 401 k plans , where you invest ...sometimes in the company you work at , or Employee stock option programs , that was the one I was in or a couple other options that did not last long and I have little info on.
Anyway the companies who started these programs got extremely low interest rates when the going rate was like 8%, but, they had to pay part of their profits back into a retirement fund.
Well as all great ideas go, the first day after they started the programs , smart guys were finding loop holes and ways to steal the money.
My company sold about 6 times in 3 years and nobody ever moved!!!!! Hellllooooooo!!!!
You could also invest your money in the 401 or Esop and the company would sometimes match to a certain amount , sounds great except for that kicker..... they kept trying to steal the money!!!!!
The bottom line was that no matter how much or who put it in , you were only guaranteed by the government to get 4% back.
Finally the gubmint stopped a couple of large corporations from actually getting the money at the last minute and made some federal regulations after the fact.
They calmed down for a while but now you are seeing phase 2 .
If they sell the company to a foreign owner , the company is no longer under our US rules , what happens then?
That is , it never matters until it happens to you! They couldn't even imagine that it was them who was out of a job, and that guy in Mexico or Afghanistan or India, was able to feed his family {at least for a short while} as their family starts their journey into poverty.
No one has mentioned this aspect but I have quite a bit of personal experience with it.
About 30 or 40 years ago the big thing was 401 k plans , where you invest ...sometimes in the company you work at , or Employee stock option programs , that was the one I was in or a couple other options that did not last long and I have little info on.
Anyway the companies who started these programs got extremely low interest rates when the going rate was like 8%, but, they had to pay part of their profits back into a retirement fund.
Well as all great ideas go, the first day after they started the programs , smart guys were finding loop holes and ways to steal the money.
My company sold about 6 times in 3 years and nobody ever moved!!!!! Hellllooooooo!!!!
You could also invest your money in the 401 or Esop and the company would sometimes match to a certain amount , sounds great except for that kicker..... they kept trying to steal the money!!!!!
The bottom line was that no matter how much or who put it in , you were only guaranteed by the government to get 4% back.
Finally the gubmint stopped a couple of large corporations from actually getting the money at the last minute and made some federal regulations after the fact.
They calmed down for a while but now you are seeing phase 2 .
If they sell the company to a foreign owner , the company is no longer under our US rules , what happens then?
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