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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Pam who wrote (26974)	11/17/2004 5:10:04 PM
From: NHP	Read Replies (1) \| Respond to of 60323

Hi Pam, You are correct about the diluted earnings. Thanks! I think I got a little excited when I read in the 10Q, "Pro forma net income assuming conversion" (.24). The .24 figure is the pro forma figure for conversion of employee options, and not the conversion of the debentures. My views on why it was necessary to issue the debentures have not changed all that much since 2001. Arithmetically, we shareholders appear to have been hurt. However, there are things I cannot know. The money could have been used effectively, as stated, for "general operational purposes" among other things. My views on Eli are still pretty high, especially when we consider that he brought the company from practically nowhere, to where it is now a partner in the JV with Toshiba. Not an easy task! NHP