What people are talking about this week...

Well, I mean, apart from the obvious...
It seems that the buzz in compensation is all about Underwater Options Exchange. There are plenty of good reasons for that : Options are more underwater than ever after the terrible month of October, regranting a new batch is not a viable choice in front of a Board since the pressure on dilution control has not diminished, and last but not least, the process of exchanging options is today far less cumbersome than it was before FAS 123r (no more 6 months plus one day, "tender offers"....)
So, it is all over the Compensation news : it will be one of the subjects reviewed in the next Equinar webcast ("Executive Compensation in troubled times"), the same Equinar is launching a new product "the Option Exchange tracker" to follow step by step what companies are doing, and the normally very austere NASPP (National Association of Stock plans Professionals) is advertising their next San Francisco Chapter luncheon with the fetching title : "The Reprice is Right!  Ways to Make Your Underwater Options Come On Down! ".
What will be interesting will be to see the extend of the exchanges when implemented : up till now, sunch exchanges had no chances to be approved by shareholders unless they specifically excluded the executives from the program. They therefore were mostly a tool for the "rank and file" (since this term seems to be used by CEOs for everyody that is not one of their direct reports or not an officer of the company). I am curious to see how this will fit in a toolbox to fix the "troubled times of executive compensation".
I would love to hear from any of you : opinions, experiences, please share with us !