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Technology Stocks : Intel Corporation (INTC)
INTC 36.38-1.3%Dec 22 3:59 PM EST
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To: carl a. mehr who wrote (178084)5/25/2004 2:52:17 PM
From: rkral  Read Replies (3) of 186894
 
OT .. carl, re "Intel top management may better stop stealing the stockholder’s money, return their ill gotten gains or expect to stand trial when a dedicated person like Elliot Spitzer steps up to the plate. "

Your rant is quite over the top. As such, it does not benefit the pro-option-expensing effort IMO.

Since stock options programs are legal, it's not stealing. Nobody will be returning any money gained from stock options .. and nobody will stand trial .. despite Elliot Spitzer's zeal.

Stock options are compensation -- compensation which should be expensed. But due to FASB SFAS 123, this expense has been disclosed in footnotes to the financials beginning with Intel's FY1996. During those 8 years, Intel reported $46 billion net profit. Even if Intel had expensed options, it would still have reported $40.9 billion net profit.

And what about shareholders' equity? Well, it grew from $12.1 billion to $37.8 billion over those same 8 years while shares outstanding shrank from 6.56 billion (split adjusted) to 6.49 billion. IOW, shareholders' equity grew an average 15.4% per annum over those 8 years -- from $1.85 to $5.84 per share.

So while employees have been compensated with options, shareholders have seen their fortunes grow as well. Let's just expense the darn things.

Ron
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