What miracle?
T.J. Rodgers is one of the most vocal opponents of options expensing. He calls members of FASB FASB
See: Financial Accounting Standards Board
FASB
See Financial Accounting Standards Board (FASB). "idiots" and Warren Buffett Warren Buffett
Known as "the Oracle of Omaha," Buffett is Chairman of Berkshire Hathaway and arguably the greatest investor of all time. His wealth fluctuates with the performance of the market, but for the last few years he has been reported to be worth over $30 billion, making a "hypocrite" in your May cover story ("CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. vs. CEO"). Let the facts speak for themselves: Cypress Semiconductor, a firm that Mr. Rodgers cofounded and has been CEO of since 1982, has been an egregious options issuer and serial repricer. And it has massively underperformed over time.
According to Barron's, Cypress has returned even less than the risk-free rate Risk-free rate
The rate earned on a riskless asset. [3-month treasury bills] over the past 15 years.
So much for the "miracle of Silicon Valley" that he so staunchly defends.
Kenneth F. Broad
Transamerica Investment Management
San Francisco
COPYRIGHT 2003 Chief Executive Publishing
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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