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In 2008, MD passed a policy that helped address biases against NI by changing NI from a preferred option to the required option except in places where scientific analysis suggested that gray infrastructure would be needed, while in CA and NC gray infrastructure remains only a preferred option.
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But, argued Quinlan, an effective deterrent required "options an order of magnitude higher than this" of up to ten million dead.
Trying to wean themselves off stock options -- ahead of an accounting rule change that would require option costs to be deducted from revenue next year -- companies have turned to restricted stock as an executive pay alternative.
The Sarbanes-Oxley act, which requires option grants to be disclosed within 48 hours, has greatly reduced backdating, according to Mr Heron and Mr Lie though an alarming number of firms are still not complying with the rule.
A cat requires options much more than it actually needs to exercise them by, say, moving from a sunny spot.
In 1994, the Financial Accounting Standards Board, which sets accounting standards in America, retreated from its proposed rule to require options to be expenses.
It is expected that it will adopt a rule requiring options to be expensed, and that the American body will then consider whether to adopt the international rule.
The shift from standard options was prompted by an accounting change that came into force in America in 2005, requiring options of all sorts to be expensed.
Pointing to what she calls "fully deluded earnings," Ms. Mahar is particularly cogent in her discussion of efforts to require options to be considered expenses and deducted from profits.
New rules from the Financial Accounting Standards Board, requiring options to be deducted from a company's income, will go into effect in 2005, but technology types are still agitating against them.
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