SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?


To: hueyone who wrote (37071)12/27/2000 11:10:15 AM
From: ratan lal  Respond to of 54805
 
Great find.

I have shares from 1968 on in several companies. Wonder if they did an EMC?

Lets see.

Memory Magnetics International
Businessland
MBLM - dont even remember the name of the co.
2 others that I cant remember.
ROF(C)MAO



To: hueyone who wrote (37071)12/27/2000 11:35:02 AM
From: b_spiral  Respond to of 54805
 
Great story. Was EMC ever difficult to hold?
When this first came out I tried to find an old (about 3-4 years) article from Business Week or the Economist.
At one point it got so bad the CEO ordered all the unsold boxes to be put in the salesmen's doorways. Basically they had to climb over the boxes to grab a coffee or go to the washroom. It worked!

Forgotten EMC shares bring $4 million to investor
By Bloomberg News
November 30, 2000, 10:25 a.m. PT
BOSTON--A 62-year-old Massachusetts-based salesman claimed a $4 million windfall when he collected his forgotten stock in data storage giant EMC Wednesday, according to a report.

The man bought 3,000 shares of the Hopkinton, Mass.-based maker of storage systems at "about a buck-fifty" a share 13 years ago, The Boston Globe said, citing the unidentified man. The man wore dark sunglasses, a baseball cap and a puffy parka to keep his identity from cameras inside the state treasurer's office.

He sold 2,000 shares to pay college tuition for two of his children and forgot he still owned another 1,000 shares. EMC stock has split six times since 1992, including a 2-for-1 split this year. The shares were turned over to the state treasurer's office when their long-term inactivity was noticed, the newspaper said.

The man learned from his sister Oct. 3 that the state was trying to find him, the Globe said.

He left the state treasurer's office with 48,000 shares, saying this was "definitely the biggest thing" that's happened to him besides his marriage and his children's births, the newspaper said. He plans to keep his job and donate to charities.

Copyright 2000, Bloomberg L.P. All Rights Reserved.