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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 78.06

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3:44 PM EST

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To: Lizzie Tudor who wrote (65446)	5/13/2004 10:30:45 AM
From: Kirk ©	Read Replies (2) of 77400

"House panel passes bill to block stock-option expensing " why am I not surprised? I believe the method of accounting for them that was proposed is wrong, but I would like to see an end to transferring shareholder wealth to insiders by option smoke and mirrors. I still think if everyone showed up at conference calls and asked the CEO and CFO this simple question "If you did not have to buy back shares to prevent dilution by options, what dividend per share could you have paid shareholders with that cash?" that it would shine a light on the transfer of wealth. I used to be against option expensing. I think it was because I thought I might like to go back to high tech and I wanted my share of the pie.... but now that I seem happy writing my investment newsletter and managing my money while doing a bit of consulting, I am against my wealth being transfered to insiders. Funny how this perspective changes. FWIW, a friend got a job offer at Agilent and he was not offered options. They seem to be back to their conservative accounting ways... which means only a few top insiders and the managers get the options cream I think. Kirk

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