Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Binx Bolling who wrote (9858)	4/16/2000 9:07:00 AM
From: Ausdauer	Respond to of 60323

Binx, I was not referring to employee options in my prior post... Message 13433247 You posted the following (excerpted)... "Options covering a total of approximately 1,806,846 shares were canceled and regranted in connection with the program. The number of options shown as granted and canceled in the table below reflect this exchange of options. Such options had a weighted average exercise price before repricing of $10.3305, and the new options were granted at an exercise price of $5.00." I have nothing against this repricing of options for employees. In fact, as I stated earlier, I feel that employees of the company should be rewarded for the service they provide and the loyalty they demonstrate to Eli's long-term vision for the company. We had very hard times in 1998. Can you imagine having options with strike prices above market value? If I did the math correctly this was about a $9 million dollar gift to the employees of SanDisk. I have absolutely no problem with that. I do have a problem with tucking away $130 million in a "rainy day" account, watching the stock go to cash value and well below book value and then sitting on your hands. This wasn't just a little rain, this was a goddam' torrential downpour that nearly drowned the company. Where was the BOD when we needed them? BTW, that cash is still on the balance sheet today. Maybe they should put a barometer in the board room and add a weatherman from one of the Bay Area T.V. stations to the BOD just in case. Ausdauer