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Former Microsoft exec nets millions | |
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| Time: 14:53 EST/19:53 GMT | News Source: ZDNet | Posted By: Byron Hinson | ||
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Microsoft forgave a $15 million loan to former Chief Operating Officer Rick Belluzzo when he resigned earlier this year, the company revealed in its annual report. The loan to Belluzzo--who recently became chief executive officer at data-storage firm Quantum--was made shortly after he joined the software giant in September 1999, according to the report filed Friday with the Securities and Exchange Commission. | ||
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| #1 By 135 (209.180.28.6) at 9/9/2002 4:30:55 PM |
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Naw, it's legitimate news. Microsoft had to report this to Wall Street investors.
It's disappointing, still I get the feeling on accounting that MS wants to do the right thing, they are simply concerned of how this will hurt them if their competitors aren't doing the right thing... which was a frequently complaint of theirs during the dot-com bubble. |
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