] "Sorry, guys. The pro-expense 'em forces do not care
] about helping investors; they care about discouraging stock options.
] "In the modern corporation, intangible assets now
] constitute 70% or so of the value of the company, a shift
] from 25 years ago, when 75% of the value was in tangible
] assets. By using options, companies make the creators of
] these intangible assets into owners, and venture
] capitalists make the creative classes into partners. Options
] are a complicated, but quite creative, solution to a number of
] difficult problems in the valuation of intellect-based assets.
] "The idea of making the creative classes into owners is
] not welcomed by old line capitalists, organized labor, public
] employees, and other power centers. Hence the fight to discourage
[Politech] Jim Delong's dissenting view on stock options expensing