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Technology Stocks : Phoenix Technologies (PTEC) -- Ignore unavailable to you. Want to Upgrade?

To: The Pope who wrote (3182)	3/6/1999 6:06:00 PM
From: Marc Phelan	Respond to of 3624

In a wash sale, he wouldn't need to come up with any money of his own; and he would have a tax liability. Precisely

To: The Pope who wrote (3182)	3/7/1999 12:38:00 PM
From: Robert Alan	Respond to of 3624

Before I go into the math, let me half apologize. I did not mean to lump Kay and Angelo together as "fellow travelers". I actually have met Jack Kay once. I do not think he is dishonest. I guess I was venting my frustration at the stock price and lumping it with the Systemsoft stock debacle, which was probably caused in part by Phoenix's (and therefore Kay's) performance as much as Angelo's statements of air coming home to roost. As to the math: Riopel owes the tax when he exercises (at least 20% federal withholding). My memory of their filings says Riopel is just above water on his options so there is not much incentive for him to risk [option price + 20%(street - option)], and then hold when he is no longer part of the management of the company. If Dan Caldwell is still reading these pages, when did Riopel join and at what price are his options? Robert Alan