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To: Elroy who wrote (119002)	5/20/2002 11:57:53 AM
From: hueyone	Respond to of 152472

Elroy, as I stated in my last post, the Financial Accounting Standards Boards (FASB), the International Accounting Standards Board (IACB), the Council of Institutional Investors, Standards and Poors, and many others who have recommended expensing stock options on the income sheet, don't have an axe to grind or a pocket book to fill. Standard and Poors has been vetting their plans for their new Core Earnings number throughout the investment community for over a year now and it has met with a very favorable response from both accounting experts and investment professionals. So while a potential error in my analysis of the numbers is possible, I think a major error in the analysis of the numbers by these folks is far less likely. Hopefully I will not get some smart ass reply along the lines "if you trust anything government officials, accounting officials or investment professionals tell you, you are an idiot”. I look at recommendations from various professionals within the context of possible motives behind their recommendations. In this particular instance, I can't spot any nefarious motives for S&P to try to snow job us with new accounting that is worse than what we had. If any of you can spot nefarious motives, pray tell me what they are. If you cannot articulate the nefarious motives behind S&Ps new accounting, then in order for me to agree with Clark Hare’s position, I have to not only throw my own analysis of the numbers out the window (as well as JS's and Mucho's), but also assume that Warren Buffet, Alan Greenspan, Paul Volcker, Joseph Stiglitz, FASB, IACB, S&P, and the accounting departments at Goldman Sachs, Bear Stearns and Lehman Brothers are all mentally challenged, and that my anonymous poster friend here on SI, Clark Hare, has somehow managed to spot a glaring, significant error that these professionals, all at the top of their respective fields, have all managed to miss. Best, Huey