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

To: jonkai who wrote (67395)	4/16/2002 12:48:15 PM
From: Charles Tutt	Read Replies (2) \| Respond to of 74651

It is what it is. I don't think it's a question of lying so much as of taking advantage of GAAP rules that don't really fit the situation of a company with such a huge ESO program. The numbers are there for folks like you and me to consider. I believe Warren Buffett has concluded that ESOs represent cost whose impact on earnings should be included in the earnings statement, and I agree. But as long as there's full disclosure, it's caveat emptor. I would guess that, with MSFT stock languishing, the ESO program is less of a recruitment attraction than it once was, so its use will decline and eventually not be an issue. JMHO. Charles Tutt (SM)