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To: Stock Farmer who wrote (29402)	3/2/2003 10:38:57 PM
From: Don Lloyd	Read Replies (1) \| Respond to of 74559

John, A company's stock (or options) are a limited resource. By resolution of the shareholders. They can not simply turn on the press and print an arbitrary number of them, any more than GM can stamp out an arbitrary number of hood ornaments. Metaphorically speaking. And the prohibited action is of benefit. By selling shares the depth of the corporate treasury is increased. It's called equity financing and the benefits are well understood. According to you, shareholders refuse to allow an action which will benefit them. This logic also undoubtedly says that the benefit of $1M in stock sales is about $1M. If this were true, then the value of the new shares sold would have to be just about zero, just as I have claimed all along, to provide a net $1M benefit. Regards, Don