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To: Daniel Schuh who wrote (18230)	3/27/1998 5:19:00 AM
From: Daniel Schuh	Read Replies (2) \| Respond to of 24154

Intel's Chief Steps Down After 11 Years nytimes.com An off topic tidbit for the financial engineer: Wall Street took the news that Grove would relinquish the job of chief executive in stride, as Intel shares rose $2.125, to $78.1875. The company also announced Thursday that its board had authorized the repurchase of an additional 100 million shares as part of a stock buyback program. That last is a cool $8 billion or so at current prices. But we all know any company that does a stock buyback is moronic, right Reggie? In the middle of a paradigm shift, no less. But at Microsoft a stock buyback isn't a stock buyback, and if employees really had all the options that the boobs in the press claim they could buy the company. The press boobs just don't understand options theory, they're all too busy selling advertising.