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Strategies & Market Trends : Good Investment Theses: VALUATIONS w/ FUNDAMENTAL ANALYSIS -- Ignore unavailable to you. Want to Upgrade?

To: Edwarda who wrote (87)	4/24/1999 8:14:00 PM
From: Chuzzlewit	Read Replies (2) \| Respond to of 160

Are we having a partial meeting of the minds? (Even if you do call me an eel) If I may presume to summarize areas where I think we agree: 1. ESOs are useful for startup companies with limited cash; 2. ESOs need to be explicitly accounted for on the income statement; 3. ESOs seem to offer tarnished high level corporate officers a continuing gravy train at shareholder expense even when the company has done poorly. Areas where we disagree: 1. ESOs are useful incentives; 2. ESOs serve as golden handcuffs. An area where we may or may not disagree: 1. ESOs are used because they hide the true cost of doing business from shareholders. Is that a fair summary? Purring contentedly in response to your strokes ... Debating can be so ... pleasant with right opponent. CTC