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Monday, February 17, 2003 5:17:51 PM
You lay out a very complete and balanced overview of the whole situation.
Some other points of mine...
I don't think anyone is upset about the options granted to recruit, keep and compensate the employees. It's the disproportionate allocation to management that has people concerned.
Those upset about the cost (including me) aren't looking at what would be reasonable option use for employees and management to see what the excess is. Those who have no problem with options aren't looking to see what they consider fair. It exaggerates what the difference between the two sides really is.
Did the shareholders authorize the 4:1 option to shares bought plan?
To those that say if you don't like it, sell. What if the company was paying $50,000 for each desk top computer to a company run by a director's wife. I would still own the stock because it's a good investment in spite of that greed, but I would not be happy about that arrangement.
What's done is done and we can't change it. I do believe the discussion has achieved awareness of the option issue and any future option plans will be looked at very closely. People have formed their opinions and unless someone has a fresh perspective, it is probably best to let this rest. If and when a future option plan comes up for a vote, THEN we can revisit this. But as Loop says, we are on the 5 yard line, so let's forget about whether or not the QB is overpaid and enjoy the big score that not only wins the game for our team, but also covers the spread so we make money too.
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