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I will get back to you on the Dachle/Bush/SEC deal as soon as I have given it the thought it deserves.

One point of agreement though is that options should most definitely be expensed IMHO.

Well one problem with options, is that the amount of the expense varies with the Scholes/Black option formula calculation of their value, which changes as the stock price and volatility varies. To include them on the balance sheet will cause more volatility in earnings. I am not sure of the answer on this one, but it should all be disclosed in footnotes. A LOT more should be disclosed than is currently in financial statement footnotes, and anything that has a substantive economic impact should be put there even if somehow GAAP, which also needs an overhaul, doesn't rope it in. The footnotes should be listed in order of importance, and highly material ones put in bold and large print. The balance sheet line items potentially impacted by the material footnotes should have a CAUTION notation.