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BGC Partners, Inc. Message Board

  • doowop59 doowop59 Jul 2, 2013 3:09 AM Flag

    A message to BGCP employees, present and former...


    I know some of you check this board. You all have your own agendas. I did too during my 31 years at Morgan Stanley. I retired 2002 , First V.P., Investments. I was able to do that in part because I sold my MS stock in the 40's and 50's . Rolled into IRA. Don't be too hasty blowing out your BGCP shares now. You will get more later IMO.

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    • I do not think we have that situation here. There are three classes of ownership in BGC Limited Partnership structure. First you have the BGC Partners Inc.public shares which is what we own and they are called the A shares. Next you have BGC Partners Inc. B shares that are owned by Cantor Fitzgerald(think Lutnick) which have super voting power. Last there are the LP Units that the employees own. The LP units are forfeitable units with a number of restrictions if you leave the firm before retirement.. These units pay a income stream to the unit holders which the brokers rely on to supplement their base pay. BGC is a complicated structure but the bottom line is that the BGCP A shares are not in the hands of the employees.

      Sentiment: Strong Buy

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