Skip to comments.Facebook workers suffer pain of stock's sharp sell-off
Posted on 08/19/2012 1:08:54 AM PDT by Cincinatus' WifeEdited on 08/19/2012 2:42:24 AM PDT by Admin Moderator. [history]
Facebook Inc. is in a world of hurt on Wall Street but its employees are also feeling the sting of the stock's sharp sell-off.
For many staffers, the precipitous drop means their Facebook stock is not going to yield the returns they hoped, at least not right away. They have had to defer or downsize their dreams of buying a home or a new car.
Should have sold on the first day. Got greedy and it bit them.
Maybe they haven’t met Soros who bought a lot of stock and i s probably moving. Wonder if the founder is in on it?
Good grief. The kids that frequent FB, don’t buy products.
FB was the obvious short sale.
The social networking giant also has the lowest median age, 26, as well as the highest portion of female workers, 33 per cent, among nine of the US IT industry's top companies.
At Facebook, workers make about $59,100 to start, 49 per cent more than the national average. They get a 13 per cent premium over what employees would earn at similar positions at other companies, the survey found." [June 2011] Source
....."You wont find any cubicles in Facebooks new 150,000 square-foot office in Palo Alto, California. The interior is wide open, with a warehouse look. The design firm Studio o+a consulted employees to find out their expectations about the work environment and what they desired their space to look like. This led to many different designs across departments, based on their individual needs and tastes. Many of the walls were left blank, in order to encourage employees to further customize their space. The overall feel is casual and relaxed, with plenty of areas to unwind away from a computer."..... [Sept 2009] Source
I give Facebook credit for lasting longer than MySpace, but sheesh... People really thought Facebook would last longer than, say, Palm Pilot?
Oh, Soros is moving stock alright:
I think Sean Parker said it best, “Facebook is cool.”
The grown ups either over monetized something for which they had no clue about or it was another boiler room operation and everyone who was in on it got out on day 2.
I kept getting blocked from inviting “friends” on fb and received messages that I was crapping up their high standards by inviting people that I don’t already personally know.
Then I noticed my friends are retarded, so I was like... fine, whatever.
Awww, what a pity. Let us get out the violin.
Not saying that I wouldn’t love to work in a place like that.
However, my long-term career plans would never be to bank on being there for more than 3 years.
Facebook is no super company. They need to generate real cash off of all of this fluff sooner or later, and there simply is no way they can.
The "green gravytrain" should suffer this same reality.
Company employees who received stock are prohibited from selling until the IPO Lock Up expires. For Facebook, this was just a couple of days ago.
If you don’t know>>>
What is killing Facebook and its stock is that more and more people access it via mobile devices (smartphones, androids, iPhones). Where due to smaller screen size their advertizing is much less effective with fewer click throughs
To me facebook is a big ol AOL except it is advertizing supported. Same as AOL in that facebook would love you to stay on facebook all day or at least a good part of it be exposed to its advertizing
Lots of facebook addicts can spend hours flipping through it on mobile devices...like my friends wife. They are out driving with him at the wheel and his wife is flipping through facebook
They should have sold, quit and then shorted. They’d be rich by now.
They cannot sell until the employee window opens. This prevents a complete collapse of the public shares at the IPO. This is true for all companies going public.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.