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The Coca-Cola Company Message Board

  • mycrof4 mycrof4 Jul 28, 1998 9:58 AM Flag

    Dear NotBuffett 2

    There is a question on the Motley Fools KO Boards
    that is
    right up your alley and I think you would
    love to sink
    your teeth into
    it.

    http://boards.fool.com/Message.asp?id=1080167000555000&sort=postdate

    Good Luck and God Bless

    MYCROFT

    • I need to save it to memory but didn't I couls then cut and paste later today.
      notbuffett

    • Let's hear about the chicken!

      P.S. I hope your story isn't about Chicken Little who posts on this BB.

    • TooHigh's defensiveness on the subject of stock
      options is probably because I corrected him previously
      when he was spreading this false information on KO
      stock options. You could look at posts 3811, 3844 and
      3868 if you're interested. He has now been corrected
      on at least 3 or 4 occasions and persists in
      repeating these lies.

      notbuffett had TooHigh pegged
      a while back when he compared him with Tokyo Rose.

    • Maybe a guy with an agenda. to bury us in
      manusha.
      I discovered a great company or actually an
      industry group to invest in" The Great American Fertilizer
      Co." The stuff is getting deeper and deeper and the
      market is getting smaller and smaller.
      Maybe we
      should short it . but the timing is no problem it goes
      on every hour of every day. Just jump right in ,sit
      right down , Daddy let the good times roll.
      I should
      post my chicken story about now.
      notbuffett

    • 2 High: Why so testy and defensive? As you will
      note, I stated in my post (#5039) that "Info on
      dilutitive effect of options to follow." It did: read my
      message #5042 re accounting for options. I wasn't taking
      one side or the other. Rather, I was just posting the
      numbers reported by KO to the SEC. As you will not, net
      income was diluted by $.03 per share in 1997 due to
      stock option plans. More info on KO's options plan is
      contained in the 10-K and other SEC filings but
      unfortunately Yahoo limits the length of posts. A lot of
      pissing & moaning goes on in this board regarding
      misleading information, lying, etc. If we are going to have
      a reasonable discussion here, we might as well
      agree on the numbers.

    • What kind of scumbag would continue to tell the same lies over and over even after being proven wrong?

      I mean besides Bill Clinton of course.

    • It only tells one side of the story. If you do a
      little more homework, you will find that KO has also
      issued shares. The shares are issued to employees in the
      form of stock options. As the options are exercised
      the shares are issued. They have indeed repurchased
      shares with one hand and issued shares with the other.
      Please do your homework. Read more carefully. Look at
      the Value Line sheet to see the actual number of
      shares outstanding each year. Your quote is from KO and
      it makes them sound like heroes when they aren't.
      They are reading their watch in 1984. In case you
      hadn't noticed, the year 2000 is coming. You had better
      look at todays numbers or you will lose alot of
      money!

      TOOHIGH2WIN

    • I read the same thing in my anual report . Either
      Coke-Cola is lying or some other people are . Take you
      pick.
      Coke -Cola is sworn to be correct and signed
      by the auditors and directors od Coke-Cola . Under
      penalty of law.
      The other opinions are of name-less
      face-less posters.
      notbuffett

    • From 10-K:

      NOTE 11: RESTRICTED STOCK,
      STOCK OPTIONS AND OTHER STOCK PLANS
      Our Company
      sponsors restricted stock award plans, stock
      option
      plans, Incentive Unit Agreements and Performance
      Unit
      Agreements. Our Company applies Accounting Principles
      Board
      Opinion No. 25 and related Interpretations in accounting
      for
      our plans. Accordingly, for our stock option plans,
      no
      compensation cost has been recognized. The compensation
      cost
      that has been charged against income for our
      restricted stock
      award plans was $56 million in 1997, $63
      million in 1996 and
      $45 million in 1995. For our
      Incentive Unit Agreements and
      Performance Unit
      Agreements, the charge against income was
      $31 million in
      1997, $90 million in 1996 and $64 million in
      1995.
      Had compensation cost for the stock option plans
      been
      determined based on the fair value at the grant dates
      for
      awards under the plans, consistent with the
      alternative
      method set forth under SFAS No. 123, "Accounting for
      Stock-
      Based Compensation," our Company's net income, basic
      net
      income per share and diluted net income per share would
      have
      been reduced.
      The pro forma amounts are indicated
      below (in millions,
      except per share
      amounts):

      Year Ended December 31, 1997 1996
      1995
      -----------------------------------------------------------------
      Net income As reported $ 4,129 $ 3,492 $2,986
      Pro
      forma $ 4,026 $ 3,412 $ 2,933
      Basic net income per
      share
      As reported $ 1.67 $ 1.40 $ 1.18
      Pro forma $
      1.63 $ 1.37 $ 1.16
      Diluted net income per share

      As reported $ 1.64 $ 1.38 $ 1.17
      Pro forma $
      1.60 $ 1.35 $ 1.15

    • From the most recent KO 10-K (Info on dilutitive
      effect of options to follow):

      SHARE REPURCHASES -
      Our Company demonstrates confidence in
      the
      long-term growth potential of our business by
      our
      continued and consistent use of share repurchase programs.
      In
      1992, our Board of Directors authorized a plan to
      repurchase
      up to 200 million shares of our Company's common
      stock
      through the year 2000. In 1997, we repurchased
      approximately
      20 million shares under the 1992 plan. Through 1997,
      we had
      repurchased 187 million shares under the
      1992 plan.
      In October 1996, our Board of Directors
      authorized a new
      program to repurchase 206 million
      additional shares through
      the year 2006.
      Since the
      inception of our initial share repurchase program
      in
      1984 through our current program as of December 31,
      1997,
      we have repurchased more than 1 billion shares,
      representing
      31 percent of the shares outstanding as of January
      1, 1984,
      at an average price per share of $11.27.

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