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Technology Stocks : How high will Microsoft fly?
MSFT 483.03+0.5%Dec 5 9:30 AM EST
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To: Dennis Conner who wrote (27438)7/28/1999 8:56:00 AM
From: John F. Dowd   of 74651
 
Dennis: I think that is at least one of the major factors here if not the major factor. It has long been a complaint that MSFT's option program is oft times the tail that wags the dog. On the other hand it is a way of introducing new (albeit dilutive) capital into MSFT on a continuing basis while attracting top talent. I wonder when this factor will become unmanageable if ever? JFD
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