Don't Cry for Me, WorldCom
Take a ride on the Jane Galt line and find out why no tears should be shed for the WorldCom employees who had almost all their retirement savings tied up in their company's now worthless stock. Here's an excerpt:

When this gent watched the Enron folks on TV who were contemplating trading the split level for a refrigerator box and a can of Whiskas, who found themselves, in late middle age, unemployed, in a town where their now-bankrupt company was the major employer, with few prospects for either finding another job, or funding their retirement. . . did this guy notice, "Hey, I live in Mississippi. WorldCom is the major employer around here. I'm middle aged, and I have 80% of my 401(k) in one stock. Maybe I should take steps to avoid the same fate." Nope. He left his holdings where they were, popped open a Colt 45, and sat down to watch Mork and Mindy reruns.

- posted by Amy @ 7/03/2002 08:08:00 AM