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Technology Stocks : Siebel Systems (SEBL) - strong buy? -- Ignore unavailable to you. Want to Upgrade?

To: Kevin Rose who wrote (5947)	6/8/2002 2:48:36 PM
From: hueyone	Respond to of 6974

Destroy or disable stock options, and you'll kill the golden goose. Time out. I have to go on a bike ride. It's Saturday by golly. Best, Huey

To: Kevin Rose who wrote (5947)	6/8/2002 10:29:43 PM
From: hueyone	Read Replies (1) \| Respond to of 6974

I thought Silicon Valley was successful because the bicycle route on Foothill Expressway is particularly good. The Page Mill/Skyline/kingsMt loop is pretty damn good as well. All those cyclists are getting lots of oxygen to the brain. More seriously, If we have more truthful reporting, I suspect the overall level of stock option activity would decline, but I believe outstanding employee/managers will still find a way to be well compensated---- including with stock options. As for business going elsewhere, Silicon Valley was a center of technological excellence long before companies started handing out stock options like candy in the nineties, and I suspect Silicon Valley will continue to be a center of technological excellence long after stock option accounting reform occurs. (I am not aware of someplace in the world that is on the verge of taking over the US/Silicon Valley role, but that doesn’t mean there isn’t such a place). I believe more truthful accounting to investors will direct more capital to those companies that deserve it. Lots of capital has been transferred from investors to undeserving companies, ideas and individuals who have been able to inflate their earnings results using both bogus pro forma numbers as well as the stock option expense loophole. For this reason, I am looking forward the new S&P Core Earnings numbers. In addition, I believe many public companies would be more profitable going forward, not less profitable, if they were required to expense stock options on the reports to shareholders. Remember, the compensation expense is there now, but we just don’t see it. If companies have to report this expense openly, they will likely get this expense under control. JMO, Huey