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:: Friday, October 17, 2003 ::
Unions' Strange War on Options The Intelligencer
For months the AFL-CIO has been agitating for publicly held companies to get rid of stock options as a component of employee compensation, claiming that options themselves act as a 'powerful incentive for executives to manipulate earnings and engage in accounting fraud.'
Instead, the enormous labor union - today, it should be noted in this context, dominated by government employees - suggests grants of 'restricted stock,' which is given at current prices but typically not vested for several years.
It never has been clear why such a switch would be good for rank-and-file workers. A new survey by Mellon Financial Corp. shows that restricting the use of options probably would harm the rank-and-file.------------------------------------------- posted 7:09 PM :: reference link ::
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