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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 81.16-2.4%Feb 4 3:59 PM EST
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To: GVTucker who wrote (67896)5/17/2005 8:37:47 PM
From: Stock Farmer  Read Replies (2) of 77400
 
You're talking about an increase in earnings because of an artificial accounting construct rather than an increase in earnings from operations. And for the former, I don't think it will impact equity prices at all. I know for sure it shouldn't impact equity prices.

Agree about the "it shouldn't" part 100%.

But what is and what should be aren't necessarily the same.

If the accounting value shouldn't matter, and if indeed it doesn't matter, then what the heck are Chambers and the entire tech lobby wasting everybody's time arguing about?

It wouldn't be inconsistent to operate on the assumption that Chambers believes that the accounting value of stock options does matter. Whether it should or not.

Indeed, if the accounting value of options matters enough for these high powered folks to be doing some pretty phenomenal arm-twisting on capital hill, then it's obviously important to look at who gains and who loses from getting it wrong, and to what degree, and their personal involvement in being able to determine the rightness and wrongness of it all.

Because if those who gain from getting it wrong have a say in getting it wrong... well, that's like suggesting it's a good idea to hire foxes to design chicken coops.
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