I worked for them for 42 years......
They went public - offered employees free stock (I think is was 5 shares for every year you worked there) then allowed us to buy into the IPO before it was offered to the markets. For years I kept hearing rumors to the effect that Wall Street was waiting for EL to go public - when it did it went off with a bang.
I kept buying through the Employee Stock Program ($100 each paycheck went toward a stock purchase). They awarded management Stock Grants & Options.
With the Grants you had two options.
Cash it out for $
Convert it to stock - which I did. This was a great opportunity. They might issue you a grant for 200 shares @ let's say $50 a share with a month to decide what you wanted to do, During that month period the stock price may have gone to let's say $57 a share. I take the convert to stock option & get 200 shares that where currently trading at $57 a share for $50 a share.
It's always been a win situation with this stock. I have no doubts that it will climb out of the basement it seems to have found itself in.
Another thing to note: when I worked there - rumors abounded that P&G was interested in buying the company. During the last 5 years or so that I worked there - more & more high (really high) level management positions were being taken over by "allegedly ex P&G management". The Lauders themselves mostly moved into "Figurehead" positions leaving the actual running of the company to the P&G expats.
The business model began to resemble what I understood to be the P&G model. I had a fair amount of interaction with P&G management at various "Trade Functions". They kind confirmed this (with a smirk of course).
So................
I do expect at some time in the future that P&G will buy or attempt a takeover of the company. Another reason to hold onto the stock.
Thanks for sharing Wader that’s an awesome story.
