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

To: Exacctnt who wrote (60334)	5/22/1999 5:45:00 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

Exacctnt, Agreed. I realized the error a little while after I posted it. Thanks. Of course the adjusted PE is still about 100! Of course there's a lot of controversy about how to measure the cost of stock options granted too. But I think most of Wall St. is not looking at the issue closely enough and the current method used in the footnotes is also lacking badly. I've recently been skimming the 10Ks of Oracle, Dell, Microsoft, SUN and a few of the other high flying techies to look at their stock option activity and the call writing, call buying, put selling etc.. that they do to help fund and hedge their stock option grants. The whole thing is really nutso. None of these companies is earning anywhere near what they are reporting. And some of them bring in a lot of option related income that piles up and funds the repurchases that keep dilution to a minimum. Almost every company I look at with some interest is granting options. But the biggest granters and the only ones that I've seen using put selling etc... to help fund it is the techies. It's a joke and FASB is just going to have to do something...pressure or not. Wayne