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To: Geoff Nunn who wrote (52383)	7/19/1998 8:51:00 PM
From: Chuzzlewit	Read Replies (1) \| Respond to of 176387

Thanks Geoff. Yes, the article you pointed out is a good example of the abuse I am talking about. But to dismiss this as simply an extreme case misses the point. Even sophisticated shareholders are routinely taken advantage of by management because of the failing of our accounting systems. And top managers hire top talent to figure out ways to avoid detection. Let me give you a more mundane example. Boyd Given was the CFO of Boeing until this week. In all probability he was fired as a result of Boeing's dismal performance. But look at how much this man pocketed in the 10 month period of July 1997 through May 7, 1998. During this period he exercised options for 34,839 shares for a total of $813,228. He sold those shares for roughly $1,788,581. That's a cost of $975,353 borne directly by the shareholders in the form of dilution of their equity. And that number does not include his salary or his bonus. In virtually every case shares were sold as soon as options were exercised. TTFN, CTC