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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: GST who wrote (144148)	7/23/2002 9:03:34 PM
From: Ted The Technician	Respond to of 164684

>>How could any CEO attest to the accuracy of company accounts if those accounts do not reveal options-related compensation and expense it for what it is -- The CEOs will hide behind FAS123 which allows these expenses to be disclosed in an annual footnote. You can thank the Silicon Valley CEOs and big 5 accountants for this. The CEOs will say that the statement conform to GAAP.

To: GST who wrote (144148)	7/24/2002 12:00:36 AM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

"How could any CEO attest to the accuracy of company accounts if those accounts do not reveal options-related compensation and expense it for what it is -- are the majority of CEOs going to sign these statements, knowing full well that they have omitted a major line of compensation expense and hence overstated profits? Are they really certifying the fact that their accounting statements fully and fairly reflect the performance and situation of their companies, or are they really saying we don't think we could go to jail for anything we are currently doing so catch us if you can -- there is a big difference. " There is a huge difference. This was from the 10Q filing from Amazon for fiscal 2001: "Amazon already expenses a small portion of its stock options because of an option-exchange program it extended to employees last year. Had it expensed all of its stock options outstanding, Amazon would have lost $963.1 million last year, instead of its reported loss of $567.3 million, the company said in its annual report."