Already well known are John Kerry√?¬Ę√Ę‚??¬¨√Ę‚??¬Ęs inconsistent positions on Iraq and gay marriage, but one of his lesser-known flip-flops could harm investors, technology companies and the economy, according to James Glassman at Tech Central Station.
Kerry is one of several key senators blocking a bill that would halt the Financial Accounting Standards Board’s (FASB) attempt to force companies to guess the costs of employee stock options and write them off as expenses. If required to expense stock options, Glassman says √?¬Ę√Ę‚??¬¨√?‚??it’s almost certain that many businesses, including high-tech firms, will stop issuing them, and American innovation and competitiveness will suffer.√?¬Ę√Ę‚??¬¨ ¬Ě
In 1994, however, Kerry was totally opposed to expensing options and called the FASB plan a √?¬Ę√Ę‚??¬¨√?‚??real threat.√?¬Ę√Ę‚??¬¨ ¬Ě
Glassman speculates on the motive behind this Kerry flip-flop: √?¬Ę√Ę‚??¬¨√?‚??Kerry, like too many other Senators, is afraid to appear to be defending any corporate practice in the wake of the scandals involving Enron, WorldCom and the others.√?¬Ę√Ę‚??¬¨ ¬Ě