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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 71.08

+0.1%

Nov 7 9:30 AM EST

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To: RetiredNow who wrote (66803)	1/4/2005 2:33:26 PM
From: carranza2	Read Replies (1) of 77397

I find it ironic that the U.S. invented the sharing of the success of the company with its employees very broadly, and now we have other countries around the world that beat us not only in education and infrastructure, but also in terms of employee ownership." Heck of a silly thing for Chambers to say. And a dishonest one, too, in my view. Nothing per se wrong with granting options. FASB and anyone who has studied the issue simply wants corporations not to play three card monte with the shareholders when they are granted. But someone tell me what makes Chambers worth $73 million a year? And why an established company like CSCO needs to give someone like him that kind of compensation? I might (again) be an investor if CSCO were not so slick with options. I don't have the accounting werewithal to see how expensing will specifically affect CSCO, but I suspect its beat-up price may reflect to some degree the market's recognition that it will suffer mightily when it is finally forced to expense them.

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