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To: Chuzzlewit who wrote (79079)11/13/1998 5:03:00 AM
From: D. Swiss  Respond to of 176388
 
CTC, the missing piece in your roll forward of stockholder equity (reduction component in stockholder equity) is not related to employee stock options (that adds value to stockholder equity). It is related to the stock repurchase plan which adds value to the shareholders.

:o)

Drew



To: Chuzzlewit who wrote (79079)11/13/1998 8:40:00 AM
From: Lee  Read Replies (2) | Respond to of 176388
 
Chuzz,..Re:..I believe that the difference ($36 MM) was used to fund stock options. This works out to about $.026 per share.

I know this is a sore subject with you but since it appears to be fairly standard practice , it's not readily apparent what individual investors can do about it. Besides, if we consider ROIC, we haven't a lot to complain about here. Finally, if this practice is the difference between retaining such talent as Rollins, Toper and Meredith, versus ordinary types, it's even more difficult to fight.

What are your suggestions for eliminating this practice? And would it's removal handicap Dell in it's playing field?

Regards,

Lee