PMFJI,
But MSFT has a history of saying/doing things to actually keep the stock price down somewhat, for example, after every quarter they always say this level of growth won't continue, etc.
It's self interest, because if the stock price really goes nuts now, it is bound to have an extended period where it remains flat or goes down, and this will hurt how employees view their stock options. MSFT pays lower salaries but makes it up in stock options, which generally increase; if the stock goes 'way up in the short term, that would be fun for the moment, but the flat to down movement that would follow would nuke the idea that options always rise from quarter to quarter.
I'm sure you've read the stories about how MSFT profits would be greatly diminished if you moved compensation from options into salaries. That being said, I have no problem with self-interest, I practice it all the time!
Just my two cents,
-- Pete |
