The Charles Schwab Stock Rip-Off: How Management Insiders Are Looting Stock Investors' Money - Paperback

by Michael La Crone (Author)

According to the author, in this book:

Charles Schwab is used as a case study in how management insiders ripped off owner's equity from investors by the use of equity stock options. Corporate management's use of equity stock options as an incentive to align the interests of management and shareholders is exposed as an illusory fiction that results in a zero-sum wealth transfer. Mr. Schwab and management are spotlighted because they not only failed as gatekeepers to protect investors' wealth, but participated in transferring huge amounts of investor wealth to themselves.

Author Biography

Dr. La Crone has a background mix of academic, business, and consulting experience. He earned an MBA from San Francisco State University (Marketing) in 1974 and a DBA (Finance) from Golden Gate University 1996. He taught marketing management at Sonoma State University and Memphis State University (Now University of Memphis). He taught graduate finance and management strategy to the U.S. military in Korea and Japan through Troy State University in 1996-97. When his mother got involved in a cocktail lounge investment that nearly bankrupted her, he inherited it as a problem. Her attorney told her she should take the lounge over, and would need someone to operate it while going through the courts, the attorney nominated him for the job. It took five years to get the lounge sold. He also owned and operated a homecare nursing service in San Juan Capistrano, CA and an insurance agency in San Lorenzo, CA. Dr. La Crone consulted on a $100,000 research project for the real estate turnaround of a whole community in Tennessee, and with a team of consultants, conducted a needs assessment for General Motors Van Nuys, CA