Facebook Cancels Employee Stock Sale

Today’s victims of the slumping economy are Facebook employees who will not be able to sell shares, as promised.  Pre- economic meltdown, employees were told they would be able to liquidate some shares as a cash incentive to keep folks interested until the hoped-for IPO.  It was an interesting and novel idea at the time but times change and Facebook has cancelled the sales. Dreams of a get-rich-quick cash out are over for the moment and it looks like employees will have to be happy having a job and a paycheck.