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Technology Stocks : Hewlett-Packard (HPQ) -- Ignore unavailable to you. Want to Upgrade?

To: Night Writer who wrote (433)	5/16/2002 7:28:20 PM
From: Elwood P. Dowd	Respond to of 4345

Dell CFO defends Put option Losses..... by: skeptically 05/16/02 07:10 pm Msg: 133840 of 133845 ....as economic. Well, if you are on the receiving end of stock options the way Dell's upper management has been, I guess you could call Dell's sharebuyback program, ECONOMIC.ggg biz.yahoo.com Thursday May 16, 6:02 pm Eastern Time Reuters Company News Dell CFO defends share repurchase plan as economic NEW YORK, May 16 (Reuters) - Dell Computer Corp. (NasdaqNM:DELL - News) Chief Financial Officer Jim Schneider on Thursday defended the company's share repurchase plan, which has been criticized in some news reports as being too costly for the Round Rock, Texas computer maker. Schneider, speaking to analysts during a call about the company's first-quarter earnings, said that the use of "put" and "call" options since 1996 has enabled the company to buy back shares at the average price of $10.90 a share. Reports in the New York Times and Barrons magazine have criticized the plan's structure and said Dell made a bad gamble after Dell revealed in a regulatory filing that said it had paid on average $44 a share for 68 million shares under the plan. That's far above Dell's recent trading level. It closed on Thursday at $27.85 on Nasdaq. Schneider said that if the company were to settle all of the outstanding puts, it would have paid on average $12.20 a share for the program. He also said Dell has more than sufficient cash on hand if it were to do so.