Saturday, December 09, 2006

Home Depot may see fallout over options backdating | Reuters Recommends | Reuters.com

Home Depot may see fallout over options backdating | Reuters Recommends | Reuters.com:
"On Wednesday, Home Depot said a review by outside counsel found that, for certain stock option grants from 1981 through November 2000, the stated grant date was earlier than the actual time the grants were approved. Errors tied to the grants resulted in unrecorded expenses of about $200 million.

'The most dramatic take-away is how distressing it is to see how long these practices have been going on in some major companies,' said James Owers, a finance professor at Georgia State University"

Wow..that is a long standing practice!!! Shows how little we really know about inner workings of firms!

1 comment:

Lord said...

I only hope the IRS is busy presenting the beneficiaries with back tax bills.