If you're like me and have way to much of your net worth tied to your company's stock, consider diversifying those now worthless shares into some vacation time. The New York Times recently reported on a cool promotion currently being offered by Elite Island Resorts, which operates a number of upscale resorts in the Caribbeans including the St. James's Club in Antigua and the Palm Island Resort in the Grenadines, where they will accept payments in stock for vacations booked by January 31. The best part is that they'll use the value of the stock as of July 1, 2008, which means you'll likely get a great discount on your stay considering the disastrous performance of the stock market during the past few months.
Said Steven Heydt, President of Elite Island Resorts:
“Things are so quiet you have to do things out of the box. I’ve been thinking about what could I do to turn things around and somehow relate to the overall economy and the stock market declines. We all believe there is great value in the U.S. stock market. We are willing to wait for this market to turn around."
If your portfolio is comprised mostly of penny stocks, don't bother trying to take advantage of this promotion since Elite will understandably not accept your shares in that off-shore online gambling company. In addition, Elite will only accept payments in stock up to $5000, with any additional amounts charged to your credit card.
Find a complete list of acceptable shares and book your vacation at eliteislandresorts.com.
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