Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.54

-1.2%

3:59 PM EST

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To: Stock Farmer who wrote (114189)	2/24/2002 4:01:11 PM
From: Peter J Hudson	Read Replies (1) of 152472

John, I have to believe you are deliberately distorting the facts. <<To summarize: employees get value. This value doesn't come from the company, and it doesn't come from shareholders. Where, pray tell, do you think it does come from? There is no such thing as a free lunch.>> The value comes from an increase in market value of the underlying issue. Let's assume you purchase call (LEAP)options on the same day that the employee receives the stock option grant and you sell your option on the same day as the employee at a huge profit. Where did your value come from? Did it cost the company? Did it cost the shareholders? If the stock price hadn't increased would the options program be ok? INCREASE IN VALUE OF AN OPTION AFTER IT IS GRANTED IS NOT A COST TO THE COMPANY. I am not saying that stock option plans are never abused. The abuse usually benefits executive management and directors, but if you are claiming that Qualcomm is guilty of bad practices you need to be specific. The fact that employees benefited from an increase in the value of QCOM stock is not evidence of wrong doing. Pete

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