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To: Chuzzlewit who wrote (126355)5/18/1999 11:00:00 PM
From: Paul Merriwether  Read Replies (2) | Respond to of 176387
 
ctc
your argument holds if and only if employees routinely and periodically exercise. there is some evidence that most employees of good companies believe in their companies and tend to hold their options over the longer term(long enough that the dilution should be a non issue in light of stellar performance of the company).