We believe many companies are taking a wait-and-see approach to the proposed rules. While some companies recognize their disclosures are inadequate, most want to see what the final rules entail and how other companies respond.

As companies continue to expense their stock options, we expect to see a growing number of companies embrace other forms of incentives for their executives, such as performance-based stock. Although the vehicles may change, the goal of keeping executives motivated and engaged while effectively tying their pay to performance is as important as ever.

Unrealized gains on stock options are one of the best indicators of pay- for-performance sensitivity. Despite the occasional anomaly, both shareholders and boards should be pleased by the strong correlation between an executive's pay and how well - or poorly - a company's stock performs.

It seems people are dressing down in all areas of life, and the rules in the workplace are accommodating that.

The real point is that all this is happening without rules and boundaries and thought and legislation. The information is now so unlimited and so discretionary, and the privacy issues spring from that lack of boundaries.

I love rules and I love following them, unless that rule is stupid.