88-Year-Old Ready To Work

Q: I am approaching 88 years old and have been retired for about eight years. I have a bachelor’s degree and have taken many outside courses at Stanford, Yale and Michigan State. I’ve worked in Washington, D.C., and on the West Coast, and spent more than 30 years with food industry associations.

I’ve managed conventions, made documentary and educational films and done some ghost writing. I am also experienced with computers and financial management. I have volunteered in a marketing and trade show capacity for a Native American Indian association since I retired, but I have had an urge to get back into a productive environment.

A: You might consider writing a book to help others tap into their inner resources, as you obviously have, considering all that you’ve done - and still want to do. As for jobs, I’ll bet local not-for-profits would love to have someone like you to help with their fund-raising efforts.

Relocation reimbursement depends on the company

Q: I am at the executive level in marketing and have lived in the same area all my life. I have been considering looking for a new job out of state, but I don’t know what to expect in the way of relocation expenses. Will a new employer pay all my moving expenses including the 6 percent commission on the sale of my home? I don’t want to be taken advantage of, but I also don’t want to turn down an offer because the company does not pay for the incurred costs.

A: Every company has its own relocation policy. Robert Mayer, executive search consultant at Kennedy & Co. in Chicago, has seen companies cover all the expenses, including travel and living expenses until the family can find permanent residence. Other companies limit the expenses to cover only a short time period and a limited number of trips home until permanently relocated.

Of course, everything is negotiable in this job market: The more a company wants you, the more you can hold out for. Just be sure the job offer spells out all the details of the relocation package.

Is there any recourse for bad investment advice?

Q: I work for a bank that was merging with another bank. Management called in a very sharp and attractive woman (a vice president) to discuss the merger and its benefits to us. All local bank officers attended. In her dog and pony show, she told us that the stock was going to go up 30 points and suggested that we hold onto it for a little while longer. At that time, the stock was quickly going up, like the rest of the market. Most of us followed her advice.

The stock went up - but then plummeted. My option would have been worth $20,000 take home, but now it’s worthless. I was buying a house and needed the money for a down payment. Because of her speech, I borrowed money from my dad and did not exercise my option. Was it appropriate for a company officer to discuss stock prices with us? Do we have recourse?

A: She was obviously speaking out of hope, not out of knowledge, since no one can predict the timing of stock price fluctuations. It’s natural that an officer of the company would be optimistic about the stock price, so you should always consider the source when listening to investment advice. And remember the clause on investment materials: “Past performance is not an indication of future results.” In the absence of fraud, you can’t sue an adviser because of bad advice.