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Idea Markets

April 3rd, 2006 · No Comments

The New York Times writes:

At Rite-Solutions, the architecture of participation is both businesslike and playful. Fifty-five stocks are listed on the company’s internal market, which is called Mutual Fun. Each stock comes with a detailed description called an expect-us, as opposed to a prospectus and begins trading at a price of $10. Every employee gets $10,000 in “opinion money” to allocate among the offerings, and employees signal their enthusiasm by investing in a stock and, better yet, volunteering to work on the project. Volunteers share in the proceeds, in the form of real money, if the stock becomes a product or delivers savings.

Mr. Marino, 57, president of Rite-Solutions, says the market, which began in January 2005, has already paid big dividends. One of the earliest stocks (ticker symbol: VIEW) was a proposal to apply three-dimensional visualization technology, akin to video games, to help sailors and domestic-security personnel practice making decisions in emergency situations. Initially, Mr. Marino was unenthusiastic about the idea “I’m not a joystick jockey” but support among employees was overwhelming. Today, that product line, called Rite-View, accounts for 30 percent of total sales.

Tags: Software

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