I can’t link to this morning’s Journal but all I can say is thank God there is one sane person on the staff there. Check out the article by Holman W. Jenkins Jr. on the Op-Ed page. Money quote:
“We suspect in time it will be seen that he temptation of backdating flowed primarily not from the desire of top executives to increase their own pay (there are easier ways to do that) but to take advantage of of employee preference for `in the money’ options in an extremely competitive market for talent.”
Amen, HWJJr. And may Buddha bless you with much prosperity.
Meanwhile however the other dicks on the Journal are still savaging us. Douchebags on A3 carp that our review board wasn’t really independent. Then Lee Gomes (of Adams Family fame?) on B1 does one of his wise-man-of-the-Valley handwringing oh-what-a-shame pieces. Funny how guys who never built a company or worked at a real job can have loads of opinions about how to do it. Keep that in mind when you’re reading the Journal. That’s all I’m gonna say. Peace out.