Siebel Systems (SEBL) - strong buy? Message Board

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Technology Stocks : Siebel Systems (SEBL) - strong buy?

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To: Mike Buckley who wrote (5997)	6/11/2002 10:24:24 AM
From: hueyone	Read Replies (1) of 6974

If Tom Siebel were to say to the shareholders that either he gets paid $150 million per year or he walks, what do you think the reaction would be? I know what this shareholder's reaction would be: "Give him his gold watch and send him on his way". But how did we arrive at the (hypothetical) juncture above where a shareholder like me would decide a man of tremendous talent like Tom Siebel is no longer working in my interests as a shareholder? It can all be laid at the foot of the false (but legal) accounting. This accounting loophole, which otherwise fine folk like Tom Siebel cannot resist exploiting, has had the effect of misaligning employee interests with investor/shareholder interests--- pitting the two against each other. False accounting has corrupted the purpose of employee stock options. This unexpected consequence is all the more ironic considering that employee stock options were envisioned to accomplish the opposite---that is to align employee interests with investor/shareholder interests. Employee stock options can still accomplish their purpose, be we have to close the accounting loophole in order for them to work. Best, Huey

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