Dear wbmw.
Re: ME: “Please note that during the first quarter of 2008 Intel distributed 132 million shares as bonuses. That is 528 million shares per year.”
YOUR ANSWER: ”If you look at the 10-K, you will see that these were not new grants, but rather exercises from the current pool of existing options, which numbers about half a billion shares at the end of 2007. Please look at my posts to Joey. The sustained amount of buyback needed once the pool evaporates is about 60-80M per year, based on grants in the last 2 years.”
MY ANSER: It was obvious to me that “these were not new grant”. The issue I have with Intel’s management is that it is unfair to the shareholder to spend such a large fraction of the earning on repurchase of shares. I believe that we (the shareholder) prefer a significant larger distribution as dividend.
Re: YOUR ANSWER: “Only in the mischaracterized way that you presented the data. This is not the case long term.”
MY ANSWERE: My data were taken from the Q1 2008 report. I do not wish to postpone my fair share of the earning as dividend until half a billion share are bought back by Intel.
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