garyp
07-27-2004, 08:15 PM
A new AP story about the large amount of money many Googlers (http://story.news.yahoo.com/news?tmpl=story&u=/ap/20040727/ap_on_bi_ge/google_gazillionaires_1) will be worth (at least on paper) after the IPO.
"I've heard some huge numbers — even that everyone who works there is going to be a paper millionaire," said Matthew Kelmon, president and head portfolio manager of Palo Alto, Calif.-based Kelmoore Investment Company. "The whole thing brings back memories of the bubble. People probably haven't learned much from history and they'll go out and buy three Ferraris and take out a mortgage on a bigger house."
The prospect of such sudden wealth could create a host of management problems in Google's Mountain View headquarters, hastening turnover and eroding Google's vaunted corporate culture and high productivity, cautioned Thomas Taulli, a lecturer specializing in IPOs at the University of Southern California's Marshall School of Business.
"Even people who are hard workers and dedicated employees will suddenly spend all hours of their life looking at the stock ticker, seeing where the stock price is," Taulli said. "Sudden wealth is a huge management challenge and big distraction."
"I've heard some huge numbers — even that everyone who works there is going to be a paper millionaire," said Matthew Kelmon, president and head portfolio manager of Palo Alto, Calif.-based Kelmoore Investment Company. "The whole thing brings back memories of the bubble. People probably haven't learned much from history and they'll go out and buy three Ferraris and take out a mortgage on a bigger house."
The prospect of such sudden wealth could create a host of management problems in Google's Mountain View headquarters, hastening turnover and eroding Google's vaunted corporate culture and high productivity, cautioned Thomas Taulli, a lecturer specializing in IPOs at the University of Southern California's Marshall School of Business.
"Even people who are hard workers and dedicated employees will suddenly spend all hours of their life looking at the stock ticker, seeing where the stock price is," Taulli said. "Sudden wealth is a huge management challenge and big distraction."