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The Old Thrift Plan
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 350715" data-attributes="member: 12570"><p>This was a long time ago and I don't recall the details as I was a new driver at that time and he was on his way out the door but I was told that he cashed in his thrift plan and put it all in to stock and went from $180K to $1.2M. I have to admit that I just did the math and the numbers just don't add up. $180,000/$20 (IPO price) = 9000 shares. 9000 shares which he then sold when the stock jumped to $80 netted him $720,000 so I guess the figures which were told with the story must have grown with each telling. While the figures may not be accurate I do know that he made a substantial profit as a result of the IPO. Sorry for the post but the gist of the story is that he made a killing on the IPO.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 350715, member: 12570"] This was a long time ago and I don't recall the details as I was a new driver at that time and he was on his way out the door but I was told that he cashed in his thrift plan and put it all in to stock and went from $180K to $1.2M. I have to admit that I just did the math and the numbers just don't add up. $180,000/$20 (IPO price) = 9000 shares. 9000 shares which he then sold when the stock jumped to $80 netted him $720,000 so I guess the figures which were told with the story must have grown with each telling. While the figures may not be accurate I do know that he made a substantial profit as a result of the IPO. Sorry for the post but the gist of the story is that he made a killing on the IPO. [/QUOTE]
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