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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (190946)	9/6/2002 3:48:56 PM
From: MulhollandDrive	Read Replies (1) \| Respond to of 436258

yet another executive deadbeat.... quote.bloomberg.com 09/06 14:56 Microsoft Forgives $15 Mln Loan to Former President Belluzzo By Dina Bass Redmond, Washington, Sept. 6 (Bloomberg) -- Microsoft Corp. forgave a loan of $15 million plus interest made to former President Rick Belluzzo when he resigned in May, according to a filing. Microsoft had loaned Belluzzo the money as an advance on the value of stock options he received, according to the filing with the U.S. Securities and Exchange Commission. Belluzzo had not repaid any of the loan, said Caroline Boren, a spokeswoman for Microsoft with the Waggener Edstrom public relations firm. In exchange, Belluzzo agreed to the cancellation of 3.5 million shares in options grants made in 1999 and 2000. Belluzzo stepped down May 1 after less than three years at Microsoft and a year as president amid a reorganization that eliminated his job after he failed to turn around several products such as software for television and wireless phones. Last month, computer data-storage device maker Quantum Corp. named Belluzzo chief executive......