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To: yard_man who wrote (163467)	5/2/2002 5:38:08 PM
From: benwood	Read Replies (2) \| Respond to of 436258

Those "obligations" to buy the 51 million shares at $45 are the remnants of the put option scam when it turned hostile on them after the bubble burst.

To: yard_man who wrote (163467)	5/2/2002 5:57:34 PM
From: reaper	Read Replies (1) \| Respond to of 436258

<<"has been an exceptional value for shareholders...... which is less than half our stock price today. It's been an extremely good use of cash." >> This guy misses the point entirely. The POINT is that Dell has spent $12 billion of its shareholder's money in the last 6 years, and the net effect of that is that a Dell shareholder today has basically no more proportional interest in the enterprise than he did 6 years ago. The way it is SUPPOSED to work is that when a corporation spends that kind of money to retire stock the shareholders should own MORE of the business when they're done. Yeah, using the cash to buy back stock was a smart thing (so far), GIVEN their egregious options program. What was NOT a smart thing was issuing BILLIONS of options and having Mickey and his lieutenants selling $100s of millions of shares every year, thus transferring half of that $12 billion the company spent from its shareholders to its management team. UFB. Cheers