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Corporate fat cats at Yahoo! and IBM have topped a list of CEOs whose share options gained the most in 1998. Timothy Koogle of Yahoo! saw his option rocket to $488 million -- not surprising since his company's stock went through the stratosphere last year as it registered an increase of 584 per cent. And Big Blue's Lou Gerstner watched his options jump $338 million in value, even though his company's stock climbed a disappointing 76 per cent by comparison. Graef "Bud" Crystal, editor of compensation newsletter Crystalreport.com, which compiled the survey, said: "When the market really goes up, these options turn to liquid gold." The Register would respectfully like to point out that the value of shares and the income from them can fall as well as rise... ®

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