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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: BWAC who wrote (61153)	8/29/2002 4:24:18 PM
From: hueyone	Respond to of 77400

OT Vote against the compensation plans. I am sitting here looking at the proxy statement issued from Siebel dated April 29, 2002. There is no chance to vote on compensation plans, although there may have been a chance in the past. If there was, I suspect the plan was so broad based and generalized that it really had no substantive bounds. There is absolutely no indication of how many options we can expect Siebel to be handing out during this fiscal year 2002. Current accounting rules do not require disclosure of this information until the 10K is released---long after the fiscal year is over. And even then, the pro forma impact on earnings from issuance of options is obscured in the footnotes. Last month, the PUBLIC COMPANY ACCOUNTING REFORM AND INVESTOR PROTECTION ACT OF 2002 was passed, S. #2673. I have not read the Act yet. Perhaps it gives shareholders more substantive voting rights, but regardless, bad accounting is bad accounting in my humble opinion. Best, Huey