Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 159.42

-1.2%

Jan 16 3:59 PM EST

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To: H. Bradley Toland, Jr. who wrote (123202)	8/14/2002 7:25:03 PM
From: hueyone	Read Replies (3) of 152472

Said another way, if you're willing to come work for me for pictures of my face on a piece of paper, my company's stock, it is not a current expense to me. Stock options have a cash value that can be calculated on issuance. And what if the company takes the same shares that would be represented by stock options and sells the shares to the public for cash and then uses the cash to pay the employees cash salaries instead of giving them stock options? Clearly we have a cash expense here. But you are claiming if a company takes the same shares and runs them through the employee to the public and lets the employee sell the shares for cash instead of the company, that we have no expense and that the second company is magically much more profitable than the first company. No way. By the way, the dilution is the same for both companies in that example above, so you should be able to see that dilution alone does not take care of the missing expense. I have never seen a published treatise supporting your double counting contention, although I did hear that Andy Grove, a not so disinterested party, tried that argument last week.

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