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Technology Stocks : Oracle Corporation (ORCL)
ORCL 217.53-4.2%3:59 PM EST

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To: Lizzie Tudor who wrote (18225)7/21/2003 5:13:04 PM
From: hueyone  Read Replies (2) of 19079
 
I don't appreciate it because I can see the level of foresight and competency most investors have wrt business just from being on these stock boards.

Yes, I totally agree. It doubt whether employee/investors who truly don't think that stock options are an expense have ever had any experience owning and operating a successful business from the very top level of a company themselves; otherwise they would likely understand the difference between earnings and cash flow goosed by equity financing versus earnings and cash flow produced by the company's internal operations. And in cases where they do understand it; I think they just don't want to admit it.

The CFO of Oracle, Jeff Henley, whom I have heard from several sources is a very bright man and well respected in CFO circles, admitted last October that stock options have an economic cost and that the company would consider voluntarily expensing them, but I never heard any subsequent support from Larry for Jeff's statement. Even so, Oracle seemed to be controlling their options expenses the last time I looked. And of course MSFT management recently came clean on this issue as well.

#reply-18153001

JMO, Huey
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