On the other hand, a bullish outlook may suggest an exercise and hold strategy at a much lower premium in order to get future long-term capital gains.

FORBES: Goolsbee: Execs Rush To Exercise Options Before Tax Rates Rise

Going forward as trustees engage in this annual exercise, there will be more reason to hand income out to beneficiaries in lower tax brackets.

FORBES: Tax Hikes Hit Trusts Hard, Beneficiaries Pull Money Out

But Lewis also said counties could submit manual vote recounts after the deadline, ordering Harris to "properly exercise her discretion" in deciding whether to accept or reject hand-counted ballot totals.

CNN: Terry Lewis

We recently had our annual pay increase exercise at my university and it did a number of things, including hand delivering pay worksheets and emailing password-protected Excel spreadsheets to ensure that the amount of the raises given was a well-kept secret.

FORBES: Pay Secrecy: Why Bother?

But this seemingly mechanical exercise of comparing prices and calculating margins is rife with subjective interference and methodological sleights of hand.

FORBES: Protectionist Antidumping Regime is a Pox on America's Glass House