Aug 13 2008
Old Playboy Stock Not Worth What It Used To Be
I haven’t thought about my stock in Playboy in quite a while, but I recently found out that it’s down below $5! I have about 30 shares from back when I used to work there. It was my first job in Chicago, and one of the benefits was a discount on company stock. It was the first time that I had even owned securities, so I excitedly scooped some up. I should have merged them with the rest of my stocks by now, but I’ve never gotten around to it.
With the stock valued so low, it’s not really worth doing that right now. I’m waiting for Hef to kick the bucket. That should help the stock price. Some would say that Hef dying would kill the company and nuke the stock, but I think that Christie Hefner will rally the troops with new ideas to save the day. Ideas that would not fly while Hef was alive. I was really impressed with Christie the few times that I heard her speak. I’m betting that she’s been waiting a very long time to take the company in a more profitable direction.
For example: imagine selling the Playboy Mansion and moving all operations back to Chicago. This would be a very cost-effective move that Hef would never agree to. Or better yet: move all operations from Chicago to New York, where the marketing team is currently located. That’s where most world-renown publications are headquartered anyway. In “an historic move”, Playboy relocates to NYC after selling the Mansion, leaving only their Playboy TV branch in Los Angeles as a satellite office. Bold new move, stocks soar.
And by soar, I mean at least to $30 per share, where I will sell my holdings for $1000. These were at $30 when I bought them, back in the height of the internet bubble with playboy.com about to go public (we were all going to be rich). In the end, I and my paltry sum of profit will claim vengeance over Playboy Enterprises for being snubbed so many years ago (but I won’t get into that story right now).
Meta-Tags:
Chicago, Playboy, stocks
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