Business Services Industry
High Tech Industry Scores Legislative Victory over Stock Options.
Knight Ridder/Tribune Business News, July, 2002
By Heather Fleming Phillips, San Jose Mercury News, Calif. Knight Ridder/Tribune Business News
Jul. 16--WASHINGTON--The high tech industry scored an important legislative victory Monday as Senate Republicans blocked a vote on a proposal aimed at changing the way companies account for employee stock options.
Senator Carl Levin (D-MI) attempted unsuccessfully to attach to a corporate accounting reform bill an amendment that would have required the independent Financial Accounting Standards Board to revisit within a year the issue of how stock options should be treated on corporate books.
Levin's intent was to provide FASB with political cover to make a controversial change to accounting standards, requiring companies to state stock...
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