Quote:
Originally Posted by Boomer
Well, gee, susiegel, ENRON, you say? Enron, that symbol of greed, fraud, and corruption. Not even close to a comparison.
Publix has been around since 1930. If you would like to learn a little more about Publix stock, which is called an ESOP, here is an article from the business section of the Atlanta Journal Constitution.
Retire as a millionaire, college degree not required
Hey, Carl, thanks for your post about the personal connection. Your story reinforces what I have thought for a very long time......"Money makes good people better and bad people worse." and "Unrestrained greed is not only bad morals, it's bad economics." (I have a bit of a fascination with behavioral economics -- big picture and little picture -- and I think those two sayings are usually right.)
And speaking of quotes -- in the article I linked above in response to susiegel, there is a quote from George Jenkins who was the founder of Publix, in 1930. When Jenkins was asked how much he would be worth if he had not given so much away, his answer was, "Nothing." -- It sounds like his grandson, whom you knew, was a darn good example of, "The apple does not fall far from the tree."
Publix is an interesting company. I hope they continue to take care of their employees. (I think I might have talked a produce guy in a Kroger in Ohio into moving to Florida.....Well, actually he had been thinking about it anyway, but he did not know about Publix. Now, he does. Hey, I do what I can to help out.)  |
I must admit that I've never heard of ESOP so I looked it up. Employee Stock Ownership Plan applying an alphabet to it does not change my point. Investing your retirement in the place you work I not a good financial plan. As I said the only place to sell your stock is back to the company.
You objected to the ENRON analogy that really does not change what I have said. I do not know anyone who worked for ENRON. I do know people who worked for KODAK.
People at Publix do see happy and I wish them well. You might be interested that ALDIS and LIDL discount German grocers are both expanding into this territory. Then you have AMAZON going into groceries. There will surely be tighter margins for grocery stores.