OTHER NEWS - May 4, 1994

Senate Opposes Proposed Rule for Deducting Stock Options: The Senate urged an accounting industry rule-making panel to reject the new way of accounting for stock options granted to corporate executives. The non-binding resolution was adopted 88 to 9 after senators attached several paragraphs stressing that they also support the independent authority of the private panel. The issue concerns a proposed rule that would require companies to treat stock options as an expense on financial reports. Currently, firms do not have to deduct the cost of stock option plans.