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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 78.03

0.0%

Dec 24 12:59 PM EST

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To: paul_philp who wrote (62929)	2/6/2003 12:52:14 PM
From: hueyone	Read Replies (1) of 77400

I am looking forward to the FASB recommendations. I don't have a lot hope for the FASB recommendations, but I sincerely hope I am wrong. In 1994 the FASB was blocked from implementing what was clearly their preferred solution, Black Scholes expensing of stock options on the income statement, by intense political pressure from Senator Joe Lieberman, and other Washington politicians that received massive Silicon Valley lobby money. Once again the high rollers of Silicon Valley are heavily lobbying Washington politicians to keep their free lunch options off the income statement. If the big money lobbies prevail again, it will be incumbent on investors to start seeing through this stock option ruse, and stop rewarding companies with rich stock prices that are heavily inflating reported earnings by failing to expense stock options. JMO, Huey

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