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Technology Stocks : Long Term Investors' Outpost -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (460)	8/22/2002 12:15:20 PM
From: Uncle Frank	Read Replies (2) \| Respond to of 562

10 year expiry LEAPS, though proposed, have never been made available, but you can get 2 year versions. You have the option of rolling them down if they get too far below the strike price, and your broker will be delighted to extend you margin to buy them. And the best part is that you won't have to show up at the office and work your tail off every day to keep them. Seriously, Harry, while I believe employee stock options serve an important purpose in the dynamics of growth companies, I abhor the gluttony and misapplication that have been associated with them, just as you do. As I see it, the real problem is the lack of fiduciary responsibility in a very few Boards of Directors. If malfeasance is involved, I hope the perpetrators receive appropriate punishment. But imo the appropriate action is to identify and convict the crooks, not to outlaw a useful system.