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January 16, 2003


On January 14, Slate, the

On January 14, Slate, the online mag owned by Microsoft, ran the following article:

The Options Handcuff
Why cash-rich companies like Dell and Microsoft don't (and won't) pay dividends

On January 16, Yahoo (and MSN) had the following news:

Microsoft to Pay Dividend, Split Stock

Only two possible conclusions can follow: (1) people are dumb, or (2) B*sh & Co. co-erced MSFT (by dangling favorable J*stice Department rulings) into paying a dividend to ease passage of the new tax-relief bill, which would eliminate taxes on dividends.

Update (1/20/03): The author of the original piece describes why he was wrong, without seeming to admit that he was wrong.

posted by adm at 10:43 PM | #


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