Because legal entities are capable of worse crimes than their corporeal counterparts.

Friday, May 18, 2007

Short Update: Get Rich Or Die In A Shipwreck Trying

I'm almost done with my last paper of the semester. Finals are next week, but this is really the "hump," as it were.

"What The Fuck" Friday will return next week. Maybe. Definitely. Maybe.

A publicly traded company called Odyssey Marine Exploration found the richest shipwreck in history today. Estimates put the worth of the gold on board the ship at or around the 500 million dollar point. According to Google Finance, the business has 57 employees. If that money is divided evenly among those employees, that's nearly 10 million per employee; employees that were, up until this point, on a sinking ship, so to speak.

The shareholders are obviously happy. If you look at the Google Finance link above, it's quite obvious when this exciting news broke, because the price of the stock nearly doubled in value at that point.

So, when something like this happens, do the shareholders get a piece of the findings, or do they just get to keep whatever money they made from the stock price rising? I should look into this for a future blog post. As for now, I need to finish a paper.

PS - notice how the price rose sharply, then fell -- I bet this is when the people who were very disappointed with the stock's performance realized a good thing when they saw it, and got the fuck out of dodge.