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Technology Stocks : Advanced Micro Devices - Moderated (AMD) -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (52120)	8/23/2001 2:14:44 AM
From: Dan3	Respond to of 275872

Re: Intel has a regular program of spending $1 billion/Q to buy back their own shares They sold more shares (many through subsidized employee stock ownership programs) than they bought - the number of shares outstanding went up last quarter. Proceeds from those sales show up as a countervailing cash flow. Neither the expense of buying their shares nor the proceeds of selling the shares is reflected in the earnings statement. Since most of the shares are basically bought at a high price on the market and then sold at a lower price to employees, effectively part of their salaries, there are some who feel the difference should be taken as an expense (part of the compensation granted to employees). And then there are Jerry's famous stock options.... another, similar issue, though that one affects stockholders more than company operations and the validity of accounts.