How I ruined three companies, lost a small fortune, and initiated a life long curse for my future employers
I've killed more businesses than Cecil B DeMille.
You probably don't believe me, but it's true.
When I first got out of college, I managed with Radio Shack. After a few years, I switched over to the computer side. The next year they started closing their computer centers. They couldn't keep up with the evolving market. Fast forward thirty years, Radio Shack filed for bankruptcy and has closed down all but a handful of its stores.
In 1997 I joined the management team at PetSmart. The stock was rolling along at a fast clip turning many of the managers who got in early into "paper" millionaires. The day you became a store director the company gave you an option on 3,000 shares with promises of much more to come.
I got my options when the stock was at $30.00 a share.
Less than a year later the stock tanked and fell to something like $2.90 per share. My 3,000 options were worth a negative $81,000.
Not a promising return considering I'd only been with the company for a year.
Needless to say, I bailed.
Ten years later, I landed at US Foodservice, a fast-growing food wholesaler - until the Nick curse struck - again.
It wasn't my fault. It just seemed that way.
There was an irregularity in the bookkeeping. Something like $800 million dollars went AWOL, and apparently, the SEC takes a dim view of that kind of stuff.
A lot of people got fired over the next year from the big guys on down. I got mine about 18 months later when they did a mass elimination of specialists.
Incidentally, I got my revenge when the stock took a nosedive, plummeting from $29.00 to $2.50.
Take that US Foodservice!
I work for a major communications company now. I won't mention any names, but if you read about one of those concerns going down the tube, you can figure it's the Nick curse playing it forward.
Do me a favor. Keep all this under your hat. Who knows, if the company I work for learns about all this, I may end up a slice of burnt, charred toast.
And, no one wants to look for a job at age 59.
They'd probably make me grow up, get a haircut, and talk to people.
Not cool. That reminds me of another story. But, no... I will leave that for another post.