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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?


To: Tim McCormick who wrote (51824)3/13/1999 7:17:00 PM
From: Merritt  Read Replies (1) | Respond to of 132070
 
Tim:

Nice report, I especially liked his understatement, "In recent years, probity has eroded." I'd be willing to bet that not only has it eroded, if you asked a series of groups of five people on the street what the word probity meant, at least four wouldn't know...and half the time the fifth would probably think it something only practiced by the naive.



To: Tim McCormick who wrote (51824)3/13/1999 11:00:00 PM
From: yard_man  Respond to of 132070
 
Nice

>> A few years ago we asked three questions in these pages to which we have not yet received an answer: "If options aren't a form of compensation, what are they? If compensation isn't an expense, what is it? And, if expenses shouldn't go into the calculation of earnings, where in the world should they go?" <<



To: Tim McCormick who wrote (51824)3/14/1999 11:36:00 AM
From: Knighty Tin  Respond to of 132070
 
Tim, Thanks. Good URL. A lot of people forget that before he hit the jackpot, Buffett was an excellent insurance analyst and knows a lot about funky accounting.



To: Tim McCormick who wrote (51824)3/14/1999 1:24:00 PM
From: Skeeter Bug  Respond to of 132070
 
tim, nice piece, thank you. skeets...



To: Tim McCormick who wrote (51824)3/14/1999 10:47:00 PM
From: Thomas M.  Read Replies (2) | Respond to of 132070
 
From your Buffett link:

"... Though options, if properly structured, can be an appropriate, and even ideal, way to compensate and motivate top managers, they are more often wildly capricious in their distribution of rewards, inefficient as motivators, and inordinately expensive for shareholders. Whatever the merits of options may be, their accounting treatment is outrageous ..."

Tom