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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (69738)	10/29/1999 9:33:00 AM
From: Don Lloyd	Read Replies (2) \| Respond to of 132070

Wayne - Re - Option Accounting It occurs to me that if you back off a little to see a bigger picture, the final results of an option grant and a secondary offering look much the same. The company receives cash in exchange for dilution of ownership. The timing is slightly different, but no expense accounting adjustments are made for secondaries. Try to convince me that there is a logic behind adjusting expenses for option grants and not for secondaries. In either case, the company may buy back stock in the future, with either good or bad results using shareholder cash. Regards, Don