[geeks] PayPal alternative offering $25 free cash

[Phil Stracchino]

Nadine Miller wrote:
>  From a brief reading, and knowing the way that Newmark has tried to 
> situate himself amongst the SiliValley high rollers, I'm guessing the 
> former CL employee that sold his/her stock to eBay did so because 
> Newmark and the other founders never considered someone might do that. 
> They should have put a clause in the shareholder agreement giving the 
> company first right of refusal on the par value of the shares so that 
> they couldn't get undermined by outside parties buying shares this way. 
>  Not a good mistake when you're talking millions and modern ideas of 
> corporate "ethics" (yes that is sarcasm).
> 
> While my own "rookie" mistakes in the area of company forming were on 
> the order of thousands only, this is one area I've continued to educate 
> myself on the topic to prevent any recurrence. :-/

Yeah.  If I were floating a company and issuing stock, I would make 
absolutely certain it was written into the language of all stock grants 
etc that any voting stock must be offered back to the company before it 
can be sold outside the company.

But then, personally I'd try to avoid becoming subject to the whims and 
vagaries of the stock market in the first place.  You want my opinion, 
the day you start issuing stock in your company is the day you lose 
control of it.


-- 
   Phil Stracchino, CDK#2     DoD#299792458     ICBM: 43.5607, -71.355
   alaric at caerllewys.net   alaric at metrocast.net   phil at co.ordinate.org
          Renaissance Man, Unix ronin, Perl hacker, Free Stater
                  It's not the years, it's the mileage.