lol...is it me or does our whole society hinge on stock options nowadays? Pretty soon cash is going to go the way of gold as a useless form of currency and we'll be swapping stock certificates at the grocery store for a six-pick and some BeefJerkY...:^)
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Summer Job Nets Teen Stock Option Bonanza
dailynews.yahoo.com
SAN JOSE, Calif. (Reuters) - Forget mowing lawns or working at the local ice cream store.
Hans Pang, a 17-year-old California high school student, got his summer job at a hot Silicon Valley start-up -- and saw the value of his stock options soar to more than $100,000.
Pang, who told Friday's San Jose Mercury News that he ''likes being around cool machines,'' worked in technical support for executives at Alteon Websystems (ATON.O), a San Jose-based company which sells Internet hardware and services Web sites.
Instead of a salary, he agreed to accept an option of 750 Alteon shares. When the company went public last week, the value of his stake shot up to more than $100,000. The value later settled at about $70,500.
Pang, the son of an acupuncturist and a part-time bank teller, said the market gyrations didn't concern him.
''I can't do anything about it, so why worry about it?'' The Mercury News quoted him as saying. ''Anyway, I expect the stock to level off after the IPO frenzy.'' |
