Microsoft urges House to rethink
bailout vote
SEATTLE (AP) -- Microsoft Corp., the world's largest software
maker, urged the House of Representatives to reconsider its vote against the
$700 billion financial bailout plan Monday.
Microsoft has claimed the faltering economy and the financial sector's
collapse have not affected its business. Last week, Redmond, Wash.-based
Microsoft confirmed its faith by announcing a new $40 million stock
repurchase plan, a higher dividend and a willingness to take on debt for the
first time.
On Monday, the company issued what appears to be a first sign of concern.
Brad Smith, Microsoft's general counsel, asked the House to turn around and
support a bailout for the good of the economy.
"Microsoft strongly urges members of the U.S. House of Representatives to
reconsider and to support legislation that will re-instill confidence and
stability in the financial markets," Smith said in a statement. "This
legislation is vitally important to the health and preservation of jobs in
all sectors of the economy of Washington State and the nation, and we urge
Congress to act swiftly."
Microsoft shares fell $2.39, or 8.7 percent, to close at $25.01.
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