snapits, I was moving my money (401k) from AT&T into guaranteed interest when C. Michael announced the spin off of AT&T Wireless. I fell for it and moved back into AT&T stock to get the spin-off. Then things happened and I did not watch the stock for a time. The price dropped down into the $20 range. I figured it would go back up but it kept dropping. At $18 the BOD changed the price of stock options for C. Michael and others from $24 to $12.50. They quickly worked those options and sold the stock. The price continued down. SBC bought AT&T at around $5. Over all, it cost me about $400,000.
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