STOCK OPTIONS: Are They Gold or Just Glitter?

FOR the salaried managers of U.S. industry the most promising way to make and keep a fortune nowadays seems to be through stock options. They have become the major device to counteract the heavy (up to 91%) ordinary income taxes on company officers' pay. Some of the gains have been big: at Radio Corp. of America, President John Burns has a paper profit of $830,000 on his options for 20,000 shares of stock, while General Electric Co. Chairman Ralph Cordiner has a $1,262,260 paper profit on options exercised since 1957. But with...

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