Stock Option Expensing

This is going to be all over the news wires tomorrow and you can almost hear all the tech lobbyists starting their Pandora cries - FASB has decided that all companies must expense stock options.  Call me ignorant and naive but I don't understand what the hullabaloo is  - stock options are a form of compensation that transfer value from shareholders to employees.  We expense salaries and other benefits that provide value to employees, why should we then not expense options?

I know, I know  - you are now going to say that this is going to result in companies issuing less stock options to employees and thus take away the "engine of wealth growth."  I disagree.  This law is going to have minimal impact for startups.  Startup options are priced low enough that its not a big deal to expense them.  For public companies it is going to have an impact but the big grants post-public are given only to senior management e.g. CEO, VP's.  I actually think that this accounting change will put a brake on runaway executive compensation and force compensation committees to think longer before giving their favorite CEO a huge swath of options.