re: #117 Justanotherhuman

Lowe’s has an interesting history. The original founders made sure that employees shared in the profits. When I went to work there in 2002, there were tales of older employees who were millionaires, or close to it because of the ESOP (employee stock option plan) set up. lt changed to 401ks once I arrived, after it became more “corporate” and the vultures moved in.

One share bought in 1961 equaled 240 shares in 1996; that’s how often the shares split.

A 401(k) can be fantastic. My first employer out of college gave us the choice of a match with cash or company stock. Those that elected company stock made an absolute killing. Too bad for those that thought the man was trying to screw them.