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

To: Lizzie Tudor who wrote (65474)	5/14/2004 12:03:11 AM
From: Kirk ©	Respond to of 77400

All smoke and mirrors; see below: Study: CEO Pay Rose 27% in 2003 By Reuters \| 13 May 2004 Stock awards helped drive the average corporate chieftain’s annual compensation to $4.6 million, exceeding last year’s figure by $1 million. The median compensation for chief executives at the largest U.S. companies rose to $4.6 million last year, up from a median $3.6 million in 2002, according to the latest pay survey by the Corporate Library. The 27% climb in overall pay -- base salary, bonus, options proceeds, restricted stock awards and long-term incentive plans -- exceeds the 11.5% rise in 2002 over 2001. “I am surprised at the strength of the growth in the annual compensation,” said Paul Hodgson, author of the 2003 CEO pay report. Driving the gains were restricted stock awards. The 2003 median value for these awards was nearly $2 million, up from $1.46 million in 2002. Last year, 116 CEOs received restricted stock awards, up from 99 in 2002.

To: Lizzie Tudor who wrote (65474)	5/14/2004 11:10:57 AM
From: Stock Farmer	Read Replies (1) \| Respond to of 77400

What I would really like to see is for somebody to take a stock like say Juniper or Red Hat, and calculate the black scholes options expense EVERY QUARTER since their inception, and then hold that up againt the actual option expense that occured at exercise. My guess- a HUGE discrepancy, to the high side for the BS approach. How about Cisco? Someone did exactly that for Cisco already (well, it was annual instead of quarterly, 'cause Cisco didn't publish the necessary info quarterly). The data's published to this thread. In a message addressed to you (I seem to recall). But you didn't like the results 'cause they mismatched with your pet theory. Which despite evidence to the contrary you continue to hold.