M14W49:

Largely I agree with your post. The major exception would be the matter of compensatory option shares for insiders anytime a dilution takes place. Such provision in fact encourages excessive utilization of dilution on the part of insiders as they directly benefit dispropotionately in percentage ownership at the direct detriment of non insider holders. Such a plan should have some form of limit so as to not totally trivialize the ownership rights and property of "ordinary" common share holders. A reasonable compromise would be relatively easy to design.

Brian