Business Services Industry
Boston-Based Publishing Firm Announces Drop in Workers' Stock Plan.
Knight Ridder/Tribune Business News, February, 2002
By Thomas C. Palmer Jr., The Boston Globe Knight Ridder/Tribune Business News
Feb. 22--About 2,500 employees of Boston-based International Data Group, which puts out ComputerWorld and 300 other high-tech publications, saw the value of their stock in the company shrink nearly in half this week.
Officials of the privately held, worldwide publishing and seminar giant informed employees in a letter that this year's evaluation of the company's employee stock ownership plan showed a 47 percent drop from last year, to $24.54 a share.
While it was a "disappointing decline," executives said in an internal letter, it was not a big surprise.
"As you know, the collapse of the Internet bubble, the global economic slowdown, and the impact of the...
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