If you are a leading broking House,what would you do if the Going is so Good and you are to shortly launch your IPO at a very High price and expect the listing to be at double that price ?
Obviously unethically try to corner shares and limit floating stock and ofcourse play with your ESOP and Employee Quotas
This Broking House did just that….Key Top Employees were flattered when they were seduced from leading Financial and Banking and Mutual Fund Institutions with the lure of High Pay,High Performance Incentices and Shareholding
Just before the IPO,they were shattered when they were called and summarily dismissed from service for not meeting targets when they had actually even exceeded them !
All because to deprive them of ESOP and Employee Quota shareholding !…They had lost out on 100% to 300% returns !
With the Markets in the Doldrums now,these fired employees are exclaiming “Thank God !” and “Serves You Right !” as share prices of Broking Firms have plummetted 90% from peaks and sunk way below even IPO Issue Price
Oh ! just heard too that this Broking House has been delaying payments to suppliers…even a reasonably small payment of Rs 15000 to a Printer
When this Broking House could have created great Goodwill,they chose to create some Ill Will…so when the Chips are down…Bad and Ill Will will simply Dominate
So Stop having False Pride in being awarded ‘ Best Research House’ and other such accolades…they are meaningless when you would also qualify to be one of the top contenders for being the ‘Worst Employer’…if ever such an award is presented !
Lessons to be learnt here…….Be Good to People on your Way Up….you’ll meet them on your way Down