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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (27466)	4/17/1998 2:34:00 PM
From: Sam Citron	Read Replies (1) of 132070

MB, Splits also hide a variety of scameroos. Options packages and other non-economic uses of shares are often snuck into the proxy that authorizes the split. Did corporations learn that trick from congressional law-makers or was it the other way around? :-) Actually, I don't really see the interrelatedness of these two issues. Shareholders almost always approve these egregious option deals, including generous re-pricings when the second shoe drops, regardless of whether a stock split is part of the deal or not. They are just not very hip to dilution of equity and FASB seems afraid to blow the whistle. SC

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