Asif Suria

Cisco: Compelling at These Levels

Albert, I work in the technology sector (not an accountant Moon Kil :)) and live in silicon valley. The practice you refer to has been widely criticized but also has its supporters amongst people who believe that it becomes an important part of compensation for tech workers.

As an investor I am in your camp and prefer companies like PICO Holdings (PICO) that focus on shareholder equity as a reporting metric over a company like Salesforce.com (CRM), where a large portion of GAAP earnings goes towards options granted to executives.