Ravenwood - 01/11/05 06:00 AM
The founders of Google aren't the only ones raking it in. Their generous stock grant program and recent IPO has made around 1,000 new millionaires around the office. Companies must report stock sales of major stockholders to the SEC, but usually the only ones affected are company executives. At Google, however, even stock sales of some of their rank and file must be reported.
The disclosures have so far affected about 400 of the company's 3,000 employees, and include documenting one trade of just five shares worth $850.Of course all those disclosures are public information, which means that employee relations can be a real problem around the office.
"The whole culture's really strange when there are two people in the same cubicle and one's worth $1 million and the other is worth nothing and they both know it," said one person close to the company. "It's created this asymmetry where some people feel more entitled than others."Something tells me it's not the millionaires who have a sense of entitlement.
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