Thread regarding Edward Jones layoffs

@1vb are there certain rights you’re expecting?

I highly recommend carefully reading through the documentation and maybe even hire a lawyer before accepting it. It is not designed for your benefit. Yeah you might get a 20% return on your investment if the AI bubble doesn't burst.

1. If you quit or get fired, they will pay you back NO EARLIER than 90 days for the first of three payments. The second and third payments coming 1 and 2 years later after the first payment. That means, if they wanted, they could wait 1 year and then pay you back over 3 years.
2. The purpose of the LP is to fund the Bank. You are not an owner you have no rights to anything. You are an investor who is funding the Bank expansion. Edward Jones is not on the hook for taking out a loan to fund the bank, you are.
3. GPs are basically funding the offering through a cut to their profits. This cut is relatively small because are already making boat loads of money. They are making the bet the bank investment will pay off higher returns in the future. They can use their already massive profits to buy more interest in Edward Jones and dilute the LP class B if they so choose. The formula for what your return will be is designed to be confusing so none of this is clear.

Overall LP holders have 0 rights. You are trusting that the managing partner and GPs treat you right. They have treated class A holders pretty well so maybe that will continue maybe it won't.

@pj yeah I saw that typo after I sent it but figured everyone would figure out what I meant. :)

@kp US Bank

@gs not B of A. Rate is Prime minus 1%. Do your HW

@h8 it'll be less distributions per $/LP eventually, unless they seriously start curtailing the very high GP payouts

@gs I was also told on my call that they plan to do these offerings every 2 years going forward. I don't understand how they could keep up the historic returns while adding that many new shares of the profit.

Just got mine. Either this company is desperate for a bunch of cash from their employees, OR they really really do love us now and want us to be a LP forever. The amounts they are asking/offering are way higher than last time. Like almost double. I don't know who has that kind of $ just sitting around. I know we get a loan via bank of america, but you still need 20% down and interest rates are not low right now.

Some people have

@a7 100% agree with you, I’m in the same boat. I will not be taking part in it either.

Nope. Probably wont be until the end of september from what Im told. Doesn't matter anyway, I'm not doing it. Last thing I need is loan with employer and then have my job get put on notice january 1st because DC and ELT need the magic head count number to move a certain way.