2002

AOL

In September I had my yearly performance review and again got a “Solid Performance” rating and received a 2.48% raise which wasn’t all that much but I also got 1,500 shares of stock options.  AOL-Time Warner stock had risen a bit to $26.65 at the time I got my options, almost 1/3 the price of my original options which were still worthless. At $26.65, I had hope that my new options might be worth something in a few years. In 2002, as investors pulled out in mass of many Internet-related stocks, AOL Time Warner reported a quarterly loss of $54 billion, the largest ever for a U.S. company. At the end of 2002 AOL had laid off 530 employees but no one within our group nor in any of the groups that I delt with.

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