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

To: Lizzie Tudor who wrote (63625)	4/19/2003 3:45:17 PM
From: BWAC	Respond to of 77400

<held primarily by institutions> Mutual Funds have shareholders too. It is high time these funds/institutions be held to voting in the best fiduciary interest of their shareholders. Mark this a subproblem 2-A1<g>

To: Lizzie Tudor who wrote (63625)	4/19/2003 3:55:07 PM
From: GVTucker	Respond to of 77400

Lizzie, RE: One thing further though- if a stock such as cisco is held primarily by institutions, and Cisco rallies on a new stock options grant, there are only 2 possibilities imo: 1. institutions are not on the side of shareholders for one reason or another or 2. Institutions understand the risk/reward equation for options and think they are appropriate and postive for the company in question on some occassions. There are not the only 2 possibilities. You haven't even named the most likely possibility, namely that a whole heck of a lot of things happened in the market that day, many of which are a whole lot more important than an options grant that changes the diluted shares outstanding of CSCO by 1%.

To: Lizzie Tudor who wrote (63625)	4/19/2003 5:03:09 PM
From: hueyone	Read Replies (1) \| Respond to of 77400

Cisco rallies on a new stock options grant, there are only 2 possibilities imo: 1. institutions are not on the side of shareholders for one reason or another Come on Lizzie, there could be lots of reasons why Cisco moves 19 cents a share one way or another on a given day. Indeed, The Council of Institutional Investors has been on record for well over a year as favoring expensing stock options on the income statements. Since stock options granted to employees, directors and non-employees are compensation and have a cost, companies should include these costs as an expense on their reported income statements with appropriate valuation assumptions disclosed. cii.org See "GENERAL PRINCIPALS, D. Compensation, #8. Regards, Huey