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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Serge Collins who wrote (30049)	9/25/1999 12:10:00 PM
From: John Donahoe	Respond to of 74651

RE: They add nothing of value and encourage insiders to be obsessed with the stock price as opposed to being concerned about the fortunes of their companies. But isn't the "fortunes of their companies" strongly correlated to the stock price? I don't follow your logic here.

To: Serge Collins who wrote (30049)	10/17/1999 5:14:00 AM
From: nihil	Read Replies (1) \| Respond to of 74651

It's high tech millionaires who are made by stock options for employees. Most of the high tech billionaires are made by their original shareholdings in start ups (which are diluted by options). I don't recall about Ballmer, but I am certain that Gates doesn't take options. Microsoft gives options to all employees but the very top management. Intel also issues options to every one. The rich get more, of coourse, but INTC employees all share in the growth of the company. As a stockholder, I am immensely pleased at the results of these companies sharing with their employees. I believe that the successful performance of tech stocks is attributable to sharing profits with the engineers. INTC and MSFT both sell out of the money puts in order to obtain cheap stock or enrich their stockholders from premiums. Both of these companies buy the stock they need for options by buying it in the open market or through having puts exercised on them. This, of course, prevents the worst kind of dilution.