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Technology Stocks : Intel Corporation (INTC)
INTC 37.24-2.8%3:59 PM EST

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To: Mick Mørmøny who wrote (178947)8/9/2004 12:02:01 PM
From: hueyone  Read Replies (3) of 186894
 
Thanks for posting that article. I may repost it some other places. Silicon Valley really has a huge scam going on by paying employees with non expensed stock options and then buying back these exercised shares with non expensed cash flow. The resulting huge overstatements of company profitability going on should be obvious to anyone with rudimentary analytical skills, but the spin lobbyists working for the companies (being paid with shareholder money) seem to be making some headway with their illogical arguments that there is no expense from stock options, which imo is similar to arguing that the earth is flat.

I hope one day that this scam is recognized for what it is---the greatest financial scam in the history of mankind. Silicon Valley is full of companies like Seibel, companies that have never even generated positive Core Earnings (an earnings measure defined by S&P which recognizes stock option expense among other things), and yet many of the leaders of these profitless companies have walked away with millions or even billions dollars in ill gotten compensation gains conned out of ignorant shareholders.

JMO, Huey
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