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Technology Stocks : Network Appliance

NTAP 115.78

+3.1%

Dec 2 3:59 PM EST

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To: BirdDog who wrote (7385)	3/30/2001 2:19:29 PM
From: chic_hearne	of 10934

In the "High Tech" business...Many people are working for stock options. Yes, this is a major problem. Can you tell me any other time in the past where people agreed to work for companies based so highly on stock options? Again, major problem. Even the people who are being paid well.. heck....they got tons of money in one stock....why not cash in and diversify or buy things yeah, if you're fortunate enough. A relative of mine (won't tell ya who he worked for) got 50K founders shares for being the 20th employee at a company. They went public and at one point, his options were worth over $50 million. Had he cashed none in, they'd be worth about $2 million now. He has over $8 million in t-bills alone and is diversified other ways also. Do you think the current stockholders would feel good knowing this? I'd bet they'd like it even more if they knew every exec at the company did the same damn thing. Then when the stock is down 95%, they reprice existing options!! This game is truly criminal in nature. [btw- I know founders shares and options are different, but when you only float 10% of the common on an IPO, they might as well just be looked at as options]

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