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

To: hueyone who wrote (5996)	6/11/2002 8:39:31 AM
From: Mike Buckley	Read Replies (3) \| Respond to of 6974

Huey, If Tom Siebel were to say to the shareholders that either he gets paid $150 million per year or he walks, what do you think the reaction would be? --Mike Buckley

To: hueyone who wrote (5996)	6/11/2002 12:45:14 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 6974

For example, expensing the value of Tom's exercised stock options alone last year reduces SEBL's GAAP after tax income from 255M to 144M. Had Tom's stock options been expensed on the income statement, Tom would have had to stand up at last week's shareholder meeting and explain why he was making 175M for running a company that was only earning 144M. This might even be a tough sell for Mr. Siebel. Let me ask a bonehead question here- if you are expensing options and you have a situation like 2001 for larry E where he was granted a bunch of stock when the company was on tentative footing (to say the least), and 10 years later he has a colossal gain- is it necessary to expense this in the year of exercise, only? That doesn't seem right to me, just from a layman's perspective. Its 10 years of work he's being compensated for. L