- Feds ask judge to impose $6.5 million punishment for Cape surgeon (12/7/17)9
- Light and music show: Jackson family goes high-tech with Christmas display (12/11/17)
- Former Wimpy's Drive-In owner Freeman Lewis dies (12/9/17)2
- Makeover at the movies: Transformation complete inside Cape theater (12/8/17)4
- Jury convicts Scott City man who confessed to murder; girlfriend's testimony corroborates confession (12/9/17)
- Sugarfire Cape barbecue restaurant to open June 2018 (12/7/17)
- Pedestrian struck on Broadway (12/11/17)4
- Two Cape County residents, including former Jackson police officer, face burglary charges in Colorado (12/12/17)
- Wind brings down Wendy's sign in Cape Girardeau (12/11/17)2
- Harbor Freight Tools plans to move ahead with Cape Girardeau store (12/5/17)2
House votes to block stock options change
WASHINGTON -- The House voted Tuesday to override a rule that would require companies to count stock options against their profits, but a key senator promised to block such action in that chamber.
The House vote was 312-111, with 198 Republicans and 114 Democrats voting for the bill that would block a proposal by the rule-setting board for accounting. The board is seeking to force publicly traded companies to record as an expense all forms of share-based payments to employees, including stock options.
The rule change proposed by the Financial Accounting Standards Board in March could dramatically reduce the reported earnings of many big companies, particularly in the high-tech industry where stock options for employees have been popular.
Federal Reserve chairman Alan Greenspan, a proponent of mandatory expensing and FASB's proposal, told senators at a Banking Committee hearing Tuesday, "I would be most concerned if Congress intervened." Of the rule-setting board, he said, "I think they do a good job. It's a tough job."
That committee's chairman, Sen. Richard Shelby, R-Ala., derided the House action as "political interference."