Actually, Gary, I kind of do begrudge the REpricing of the options, not the options, themselves. I agree the engineers, etc, need to have incentives. However, I'm not so sure that can't be accomplished by the options they'll be receiveing THIS year. I think a repricing to a lower level was necessary, but options without the holder bearing ANY kind of risk should hardly be considered options.
What about those, such as upper managemnt, who have their fortunes (and ours) tied to options? Should they be given a reprieve? No. They accepted that as part of their compensation package. You don't see them giving the money back when the stock price becomes fundamentally OVERvalued, do you? Of course not. They'll take all of the credit as well as the cash. If they are underperforming, the same should occur. Take some of the blame and say "bye-bye" to that extra compensation. After all, they did agree their compensation should consist of "incentive" options.
Sorry, if it seems a little harsh.... Now that I think of it, it's really not just the rain...) Oh, by the way, Gary, I greatly appreciate your posts, and I think this may have been the first time I have actually disagreed with you.
regards,
greg |
