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

To: Bilow who wrote (83147)	8/19/2000 8:59:58 PM
From: Don Lloyd	Read Replies (1) \| Respond to of 132070

Carl - [...We really need to talk about concrete examples...] Yes, but there are presumably different grades of concrete. I still have a number of peripheral (or possibly central) issues remaining to resolve. 1. Would you agree that any thing we say about option grants also applies to stock grants, either free or discounted, and vice versa? Please confirm so that I can restrict my range of considerations. 2. Random musings, response not required. - [...In any case, if an accounting theory is going to work for all companies, then it has to work particularly for the static situation of unchanging profitability...] If there is no uncertainty, stock is merely a cash equivalent, and there is no reason for a stock or option grant program to exist as there will be no disagreement as to valuation, a requirement for a mutually beneficial exchange to occur. If stock trading is forbidden tomorrow, and forever after, the value of stock no longer has the potential to rise in response to the appearance of a greater fool. Regards, Don