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Technology Stocks : Intel Corporation (INTC)
INTC 36.08-3.2%3:59 PM EST
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To: Robert O who wrote (172795)1/31/2003 5:22:39 PM
From: Saturn V  Read Replies (1) of 186894
 
Ref < Budde has already clearly articulated the facts and circumstances leading up to Dunlap's sale of INTC stock. For you to continue to paint this as a less than one day hold with a profit of over $10 million is disingenuous and, frankly, fruitless since the true situation has been revealed >

Humble Carl and several other shareholders that I know think along the following lines.

" I have been a loyal shareholder for several years and I put my blind faith in Grove and Co. I have lost my shirt, but these managers are still making millions of dollars. Dont me give me all the fine print and the complex explanations. Something certainly stinks in Denmark ! Shareholders are being ripped off left and right by all these options !"

Well I also know several people in Silicon Valley who have been wiped out by option exercise, and had to sell their house in which they have lived in for 20+ years. These people exercised their options during the bubble, but could not sell immediately , because insider sales during quiet periods are forbidden. When they could sell, the stock price had collapsed . Because of AMT they had a monstrous tax bill and they were forced to either file bankruptcy or sell the house. They are countless such stories since a huge number of companies had the stock price crash to 1 percent of its value.
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