[Am-info] options

[John Poltorak]

On Tue, Mar 12, 2002 at 11:16:39AM -0500, John J. Urbaniak wrote:
> I just heard on CNBC that some analyst from Merrill Lynch, I think his
> name is Milanovich or something like that, said that if options were
> properly treated as expenses, then tech earnings would actually be down
> about 60%.
> 
> In Microsoft's case, if it's true that they paid no federal income taxes
> for the last two years, then what I said before was also true.  They
> made NO MONEY for the last two years.

There is a big difference between having income and having *TAXABLE* 
income. 

This is why we have accountants who will maximise the former and minimise 
the latter.

 
> John


-- 
John