Tech Firms Fight Shift In Rules On Options

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WaPo:

"Technology executives are mobilizing to block congressional efforts — a reaction to the Enron Corp. scandal — to change how companies account for stock options, a coin of the high-tech realm that some worry may distort a corporation’s true financial picture. […] Take Cisco Systems Inc., the Silicon Valley networking giant. For the fiscal year ending June 30, 2000, it reported operating income of $4.6 billion. But had the cost of options been factored in, its operating income would have been $2.74 billion, according to an analysis by the brokerage firm Bear Stearns & Co."

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