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To: FactsOnly who wrote (121764)	7/18/2002 6:19:51 PM
From: gdichaz	Respond to of 152472

Goodluck: Chuckle. Are you serious in suggesting that the US Government could keep accounting or tax rules simple? Just look at how the US Government keeps [sic.] its own books. Perhaps if stock options were available to US government workers, managers and congresspersons there would be less noise surrounding private company options. <G> Best. Chaz PS Just think what options the Chairman of the Fed could be awarded by his "Board" if that were permitted.

To: FactsOnly who wrote (121764)	7/18/2002 7:07:51 PM
From: Stock Farmer	Read Replies (1) \| Respond to of 152472

Goodluck, that proposal makes sense from a keeping track of things perspective, but it ties up capital unnecessarily. If we wanted really simple tracking we would just pay employees the cash difference in stock price on a day of their choice over the next ten (or howevermany) years. The employee can elect to top up this amount with their own cash to purchase a share, but they still have to pay the taxes on their bonus. And the company can sell shares in the open market to finance the transaction. That would be the simplest. Indeed, that has identical economic effect. Stock options merely insert a third party into the cash flow and change the order of some of the transactions. But the beginning and end effects on all parties are identical. You asked: why could we not keep it simple? Why do some women shave their legs and wear lipstick? John