Missed opportunities your family had of becoming filthy rich

[djoyce003]

My great grandfather could have bought 1/2 of frito-lay for 15k. Decided not to, nicely done.

[solids]

[ QUOTE ]
i'm dumb. so this is an honest question.

would that be illegal and considered insider trading?

[/ QUOTE ]


Yes, this would be considered insider trading. And yes, they would've likely gotten busted.

[markum9]

My wife's grandparents were extremely rich from owning some sort of retail store throughout the midwest. Her grandmother was clinically depressed, but of course at that time nobody really knew how to diagnose or treat it. She ended up committing suicide, and her side of the family blamed the husband and caused a rift between the two sides of the family.

My wife's grandfather then became an alcoholic and blew through a good chunk of the money. Still with a pretty large chunk left, his side of the family coerced him as he was pretty much incapacitated on his death bed to will all of his assets to their side of family, even cutting the children out of the will (they were all 18+ at the time).

I'm not sure the exact figures, but my mother-in-law should have inherited a couple million around 1960, but instead got nothing. They didn't even know enough at the time to take the family to court over it.

[IlliniLou]

[ QUOTE ]
My step grandparents had land in Brown City in Michigan. It was farm land, they sold it pretty cheap. Well, they found on 'in there hills' a couple of years later.

[/ QUOTE ]
i just googled it and found nothing, whats Brown City in Michigan so important?

[daryn]

yeah i feel like a few words are missing from his post

[JDalla]

[ QUOTE ]
these sound more like 'family legends'

your parents lied to you

[/ QUOTE ]

it's so easy to level people when you have less than 2K posts.

[offTopic]

My Mom's parents/aunts/uncles were citizens, and had some property in NE San Jose (mostly residential now, not heart of the Silicon Valley). They took an extended vacation, courtesty of the gubmint, during the early-mid-40s, and, strangely enough, no longer owned the land when they got back. BBV? LOL INTERNMENTS? No idea of the actual dollar value, though.

[jbrent33]

My grandfather had the opportunity to go into business with his cousins after WWII. They opened a restaurant in Atlanta, but my grandfather didn't like the restaurant business and soon sold out.

The cousins stuck with it and have done pretty well.

Chik-Fil-A

I probably missed the boat myself by not going to work for them in high school it was offered (WTF work in a fast food place?). I'd probably have a few of my own by now.

[DrewDevil]

[ QUOTE ]
My Mom's parents/aunts/uncles were citizens, and had some property in NE San Jose (mostly residential now, not heart of the Silicon Valley). They took an extended vacation, courtesty of the gubmint, during the early-mid-40s, and, strangely enough, no longer owned the land when they got back. BBV? LOL INTERNMENTS? No idea of the actual dollar value, though.

[/ QUOTE ]

Holy [censored] that's horrible.

[catalyst]

[ QUOTE ]
After the Enron Scanel, the stock for U-Haul company (parent company Amerco Inc) fell to $1.56 from the $20 something range because they were using the same accounting firm.

My dad was a regional VP for U-haul at the time and had to go to an emergency meeting in Phoenix.

They had the CEO and a rep from the accounting firm (I think it was Arthur Anderson)... They went over the company financials, the tangible assets of the company, and got an explanation from the accounting firm that U-Haul was NEVER In the wrong and had done everything correctly.

Things should be back on track within 6 months once the last two years corporate taxes were re-stated and the Enron debacle wasn't in the news every day.

My dad BEGGED my mome to take $75K out of their savings and invest in U-haul Stock. She said no... for good reason. She didn't want a spend a substantial part of their savings on about 50,000 shares.

Sure enough within 18 months Amerco was trading in the $80 range. It hovers in the $60 range now...

I'm guessing my dad would have cashed out incrementally and had an after tax profit around $2.5 Million.

[/ QUOTE ]

how are they still married