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

To: Kevin Rose who wrote (5962)	6/9/2002 11:02:07 AM
From: Mike Buckley	Read Replies (1) \| Respond to of 6974

First thing they generally do is cut the stock options, then can't understand why the best people leave, productivity drops, innovation stops. If the tax law is changed as proposed to require that options be expensed in order to get the favorable tax treatment when they are exercised, there will likely be far less use of options by everyone. When (if) that happens, employees will be less likely to leave a company specifically because of the stock options, the reason being that they won't be offered by competing companies. The companies that do make it are the best of the best, and got there incredibly quickly and with a minimum outlay of capital. The outlay of capital has a lot to do with the nature of the business Silicon Valley companies are in. If they were building old-line manufacturing businesses requiring huge factories instead of making software, the outlay of capital would be very different regardless of the use of stock options. --Mike Buckley