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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Baldur Fjvlnisson who wrote (337147)	1/3/2003 2:57:08 PM
From: JakeStraw	Respond to of 769670

We're waiting Baldur - Message 18396584

To: Baldur Fjvlnisson who wrote (337147)	1/3/2003 3:15:38 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 769670

Yes. When factoring in MSFT's propensity to utilize tax deductible equity issuance - through stock options grants - to pay it's people (quite reasonable, considering the permissiveness of the current tax code, and accounting regulations), it becomes apparent that because of this stock watering, in 3 of the last 5 years, MSFT would have had no reportable earnings at all if the equity dilution was accounted for. I believe that the I.A.S.B. will require expensing of stock options by first Q. of 2004... the question remains: will the F.A.S.B. do the same? And when will they? It would seem inevitable that they must do so - despite the howls of those utilizing this tax break to under-report earnings - but who knows? There is still major political pressure to deep six the changes in accounting.