In today’s Business > Your Money > The Tech Lobby, Calling Again” href=”http://www.nytimes.com/2004/07/25/business/yourmoney/25lob.html?pagewanted=print&position=”>New York Times, Gary Rivlin writes a piece on “The Tech Lobby, Calling Again”
interesting article about the evolving clout of Silicon Valley. Worth reading. Good article. Quotes me in the very last paragraph.
NYT on Tech Lobbying
The New York Times runs a long piece on . Unfortunately, that lobbying seems to boil down to concern over stock option expensing. If the tech companies don’t keep their eyes on bad legislation like the proposed Induce Act, they won’t have stock options…
Odd time for this article. The House vote may have been the release but the NYT story seems baked to backhand tech.
No mention of good works by TechNet and the industry in education reform. Seems like TechNet is all about lining the pocket books of CEOs and companies. Not sure why this article slants the way it does. More bias from the NYT against the rich?
The technology industry needs to do a better job making the general public aware of its positive and transformative impact on society and the economy. Options are abused by some but that does not mean that the undemocratic FASB gets carte blanche authority to rewire the capital culture of start ups in favor of larger, mature companies.
The House is correct to act and the Senate should follow suit. The legislation requires expensing of senior management options. So what is the problem? I suppose shareholders in Google will want all options expensed so no one can benefit from taking a risk on working at Google for low wages since 1998.
For most workers options are not perceived as compensaton until they are exercised and converted into something tangible (e.g., house, college fund). Hopefully Congress will not lose sight of this. FASB has not seen the football since kickoff.
NYT on Tech Lobbying
The New York Times runs a long piece on The Tech Lobby, Calling Again. Unfortunately, that lobbying seems to boil down to concern over stock option expensing. If the tech companies don’t keep their eyes on bad legislation like the proposed Induce Act, …