Thursday, April 06, 2017

When The Grift Fails

I'd say a pretty good sign of when something is a grift is that the grifter-in-chief is rolling in piles of money and *still* being shady in every way possible.

The $25 million Holmes owes Theranos comes from an agreement between her and the company that allowed her to exercise options to buy more stock without having to pay upfront. Instead, she agreed to pay the company for the shares later, one of the people said.

“It subverts the entire premise of an option grant,” said Nell Minow, vice chair of ValueEdge Advisors, a corporate governance consulting firm, who said such grants are traditionally meant to encourage executives to produce results for their shareholders. The deal between Theranos and Ms. Holmes means “any downside is someone else’s risk,” Minow said.