Jobs Likely to Avoid Criminal Charges in Options Probe

MacRumors · 12:45 AM

Mercury News reports that based on their investigation, there is little evidence to support criminal charges against Steve Jobs for the stock-option backdating investigation that first made headlines in June 2006.

Quote:

Despite Apple's disclosure that Jobs approved widespread backdating at Apple, there is no evidence he directed the backdating of his own grant or covered it up afterward, based on a review of regulatory filings and interviews with lawyers intimately familiar with the grant who asked not to be identified.

Mercury News provides an excellent summary of the history of the backdating irregularities at Apple. The main issue surrounds an initial meeting on August 29, 2001 where the board had discussed granting Steve Jobs 7.5 million shares, but negotiations continued, delaying the finalization of the stock options. The grant was finalized in December, but the options were backdated to October 2001 with falsified meeting minutes related to the options grant.

The article points out that backdating, itself, is not necessarily illegal, though who was responsible for the falsification of documents remains a point of contention.

DMann · 12:25 AM

Awesome news! This happens to be common practice with most corporations. Steve was not interested in reaping benefits from this in the first place. Glad to hear it!

dmw007 · Apr 21, 2007, 11:57 PM

Good news, our beloved leader will not be charged.

iBookG4user · Apr 22, 2007, 12:13 AM

This is good news, I'm glad that Steve Jobs wasn't involved in this.

PlaceofDis · Apr 22, 2007, 12:15 AM

good news for apple overall.

steve jr. · Apr 22, 2007, 12:18 AM

Not out of the woods until the Feds say he's good to go.

mcarnes · Apr 22, 2007, 12:25 AM

False meeting minutes? Oh brother, all corporations do that.

Talk about a witch hunt.

Doctor Q · Apr 22, 2007, 12:26 AM

It's not the crime, it's the lack of a cover-up.

mrkramer · Apr 22, 2007, 12:32 AM

This is good news, but who was it who voted this as negative???

bearbo · Apr 22, 2007, 12:37 AM

wait, i'm not getting it.... so backdating is not necessarily illegal?

AeronPrometheus · Apr 22, 2007, 12:37 AM

Quote:

Originally Posted by mrkramer

This is good news, but who was it who voted this as negative???

You gotta love that one person who trolls Apple forums and uses every opportunity to remind us that he/she believes that Steve Jobs should burn in hell.

Steve Jobs is pure hearted compared to most corporate big wigs.

buddhagoth · Apr 22, 2007, 12:44 AM

It's not a matter of heart but how the laws are written and whether they were broken or not. The SJ Mercury News is usually pretty good about this kind of info, so it looks like Mr. Jobs is in the clear. Which makes me rather happy for many reasons.

However "mercurial" or whatever Steve Jobs may be, he apparently isn't a criminal or close to being charged as one. These days in Corpo-America, that really is saying something pretty darn amazingly good!

Cordially,
BG

MacinDoc · Apr 22, 2007, 01:22 AM

Quote:

Originally Posted by bearbo

wait, i'm not getting it.... so backdating is not necessarily illegal?

Backdating is not illegal, but falsifying documents to cover up backdating is. It's all about the disclosure (at least as far as I understand it, but I'm no expert on the subject).

Stella · Apr 22, 2007, 01:31 AM

Quote:

Originally Posted by AeronPrometheus

You gotta love that one person who trolls Apple forums and uses every opportunity to remind us that he/she believes that Steve Jobs should burn in hell.

Steve Jobs is pure hearted compared to most corporate big wigs.

SJ acts in the best interests of Apple - just like any CEO would.

This is the problem with any Apple forum ( or ANY forum for that matter ): as soon as someone says anything negative about Apple - even if justified they are classed as a troll.

Get your head out of cloud 9.

Apple would definitely suffer if SJ was to be charged, so this is a good outcome.

winmacguy · Apr 22, 2007, 02:44 AM

The act of backdating share options is not illegal in itself, it is the process of correctly accounting for the expense to the company of awarding the shares from the time they were dated as being issued. Therefore if it was known at the time that the date that the shares were awarded which didn't match the date that they were expensed to the company on the balance sheet that would make the process illegal.

That is my understanding.

theheadguy · Apr 22, 2007, 04:37 AM

Quote:

Originally Posted by Stella

SJ acts in the best interests of Apple - just like any CEO would.

This is the problem with any Apple forum ( or ANY forum for that matter ): as soon as someone says anything negative about Apple - even if justified they are classed as a troll.

Get your head out of cloud 9.

Apple would definitely suffer if SJ was to be charged, so this is a good outcome.

Well said. It's not the place for a worthy debate.

Good outcome, anyway. It wouldn't do any of us current stockholders any good if he was charged with anything.

alansky · Apr 22, 2007, 04:59 AM

Quote:

Originally Posted by AeronPrometheus

Steve Jobs is pure hearted compared to most corporate big wigs.

Which is exactly why he's a target. The cynical and corrupt can't stand the comparison—it's not good for business. But the good guys don't always finish last. I can hardly wait to see Steve Jobs vs. Bill Gates at the D Conference on May 30. Could be real blood bath.

Roller · Apr 22, 2007, 07:33 AM

Quote:

Originally Posted by mcarnes

False meeting minutes? Oh brother, all corporations do that.

Talk about a witch hunt.

Try that excuse if you're audited by the IRS or stopped for speeding.

But I agree that lack of prosecution of SJ, if it's confirmed, would be good for Apple.

So now can we move the Leopard release back to June?

Digitalclips · 11:11 AM

Quote:

Originally Posted by mrkramer

This is good news, but who was it who voted this as negative???

The same trolls who always do. It never ceases to amaze me that a group of Mac haters have so little to do in their lives that they can spend time posting anti Mac and Steve comments and voting negative to all great Apple news.

Unless of course they are paid to and live in Redmond

Quote:

Originally Posted by mcarnes

False meeting minutes? Oh brother, all corporations do that.

Talk about a witch hunt.

So true! I have heard my accountants in the past comment that 'they forgot this or that' and they'd 'just pop in a back dated meeting where whatever was agreed here or there' and 'not to worry'. I'd always say is that OK? They'd always say 'Of course' as they'd pass a meeting minutes sheet for me and my executives to sign. 'We just had the meeting' they'd laugh. My degrees are not in accounting and that's why I paid the huge fees to accounting firms with large buildings downtown.

I think they must be taught how to do that sort of thing at CPA school in 101 ass covering.

I admit after Enron etc. I would not do this now but back then I honestly never gave it a thought assuming CPAs knew what they were doing.

The TV is full of shows about shady lawyers ... Now I am just waiting for the series about sleazy accountants ... lol

Quote:

Originally Posted by Stella

SJ acts in the best interests of Apple - just like any CEO would.

This is the problem with any Apple forum ( or ANY forum for that matter ): as soon as someone says anything negative about Apple - even if justified they are classed as a troll.

Get your head out of cloud 9.

So 10 negative votes can be seen clearly from reading the entire thread count can they? I don't see a negative comment anywhere yet 10 negative votes are shown (at this moment). If ten coherent, intelligent comments were here that 'justified' negative votes then perhaps you might have a point.

As it is can you explain the votes based on the actual threads that are here? I think perhaps it is you with your head up your ... sorry in your cloud.

yzp · Apr 22, 2007, 10:18 AM

good news indeed for the whole

!

however, I never ever ear those saying?

is it normal?

freebooter · Apr 22, 2007, 10:56 AM

Steal an apple, get a criminal record. Steal millions, get...off the hook.

There are principals of justice that are applied vigorously to the commoner that are not applied to the aristocrats, for the "higher good". T'was ever thus.

Digitalclips · Apr 22, 2007, 11:09 AM

Quote:

Originally Posted by freebooter

Steal an apple, get a criminal record. Steal millions, get...off the hook.

There are principals of justice that are applied vigorously to the commoner that are not applied to the aristocrats, for the "higher good". T'was ever thus.

While not entirely disagreeing with your somewhat radical, basic premiss in historical terms, please explain where SJ 'stole' anything in this specific case?

trevorlsciact · Apr 22, 2007, 11:20 AM

Quote:

Originally Posted by Digitalclips

The TV is full of shows about shady lawyers ... Now I am just waiting for the series about sleazy accountants ... lol

What television needs is a really good corporate drama. I've always thought this, and it would do so well.

Lone Deranger · Apr 22, 2007, 11:23 AM

Perhaps it would be an idea for Arn to consider making the vote results public. Open it up to scrutiny. That way, over time, it would give serious forum users a clearer insight as to who they can take seriously and who's "contributions" to the forums to take with a grain of salt.
I'm sure the list of anti-voters would be remarkably consistant.

Anyway, it's good to hear things are looking up on this. The less destractions for Apple the better. Now let's have that Leopard.

Quote:

Originally Posted by Digitalclips

The same trolls who always do. It never ceases to amaze me that a group of Mac haters have so little to do in their lives that they can spend time posting anti Mac and Steve comments and voting negative to all great Apple news.

Unless of course they are paid to and live in Redmond

AeronPrometheus · Apr 22, 2007, 11:25 AM

Quote:

Originally Posted by Stella

SJ acts in the best interests of Apple - just like any CEO would.

This is the problem with any Apple forum ( or ANY forum for that matter ): as soon as someone says anything negative about Apple - even if justified they are classed as a troll.

Get your head out of cloud 9.

Apple would definitely suffer if SJ was to be charged, so this is a good outcome.

Anyone who leaves a negative mark but doesn't back it up with an actual debate in the same thread is a troll.

Quote:

Originally Posted by theheadguy

Well said. It's not the place for a worthy debate.

This is a forum... it was built for debates and points of views... hence the word Forum.

Quote:

Originally Posted by Digitalclips

If ten coherent, intelligent comments were here that 'justified' negative votes then perhaps you might have a point.

Exactly.

Apr 21, 2007, 11:56 PM	#2
DMann macrumors Demi-God Join Date: Jan 2002 Location: 10023	Great Awesome news! This happens to be common practice with most corporations. Steve was not interested in reaping benefits from this in the first place. Glad to hear it! __________________ Think Different - Innovate Last edited by Doctor Q : Apr 22, 2007 at 12:25 AM. Reason: no need to quote first post

Apr 21, 2007, 11:57 PM	#3
dmw007 macrumors 603 Join Date: May 2005 Location: Working for MI-6	Good news, our beloved leader will not be charged. __________________ 2.26GHz Mac Pro, 24" 2.8GHz iMac 12" 1.5GHz PB G4, 17" HD 1.67GHz PB G4 PowerBook 1400cs/133, 450MHz Power Mac G4 Cube iPhone, 60GB iPod

Apr 22, 2007, 12:13 AM	#4
iBookG4user macrumors Demi-God Join Date: Jun 2006 Location: Southern California	This is good news, I'm glad that Steve Jobs wasn't involved in this. __________________ Canon 40D \| Lenses \| MacBook Pro/Air \| iPhone \| iPod Nano \| Amazon Kindle

Apr 22, 2007, 12:18 AM	#6
steve jr. macrumors 6502 Join Date: Jul 2005 Location: Canton, OH	Not out of the woods until the Feds say he's good to go. __________________ 15" 2.33 C2D MBP, 160Gb HDD, 2 Gigs RAM, Wireless Apple Keyboard and Mighty Mouse; 16Gb iPod Touch

Apr 22, 2007, 12:26 AM	#8
Doctor Q macrumors god Join Date: Sep 2002 Location: at the table with countless relatives	It's not the crime, it's the lack of a cover-up. __________________ "You've just been abducted, of course you need crepes!" -- Walter Bishop

Apr 22, 2007, 12:15 AM	#5
PlaceofDis macrumors Demi-God Join Date: Jan 2004 Location: Chicago.	good news for apple overall.

Apr 22, 2007, 12:25 AM	#7
mcarnes macrumors 68000 Join Date: Mar 2004 Location: USA! USA!	False meeting minutes? Oh brother, all corporations do that. Talk about a witch hunt.

Apr 22, 2007, 12:32 AM	#9
mrkramer macrumors 68020 Join Date: Jul 2006	This is good news, but who was it who voted this as negative???

Apr 22, 2007, 12:37 AM	#10
bearbo macrumors 68000 Join Date: Jul 2006	wait, i'm not getting it.... so backdating is not necessarily illegal?

Apr 22, 2007, 12:44 AM	#12
buddhagoth macrumors newbie Join Date: Nov 2005 Location: Bay Area, California	It's not a matter of heart but how the laws are written and whether they were broken or not. The SJ Mercury News is usually pretty good about this kind of info, so it looks like Mr. Jobs is in the clear. Which makes me rather happy for many reasons. However "mercurial" or whatever Steve Jobs may be, he apparently isn't a criminal or close to being charged as one. These days in Corpo-America, that really is saying something pretty darn amazingly good! Cordially, BG __________________ "One of the crazy ones." PB 12"; iMac Core 2 Duo; G4 Dual "Mirrored Door" All good.

Apr 22, 2007, 02:44 AM	#15
winmacguy macrumors 68020 Join Date: Nov 2003 Location: New Zealand	The act of backdating share options is not illegal in itself, it is the process of correctly accounting for the expense to the company of awarding the shares from the time they were dated as being issued. Therefore if it was known at the time that the date that the shares were awarded which didn't match the date that they were expensed to the company on the balance sheet that would make the process illegal. That is my understanding. __________________ With Windows iWork, with Apple iCreate

Apr 22, 2007, 10:18 AM	#20
yzp macrumors regular Join Date: Mar 2007 Location: Quebec	? good news indeed for the whole ! however, I never ever ear those saying? is it normal? __________________ expect the unexpected! YZ![.]

Apr 22, 2007, 10:56 AM	#21
freebooter macrumors 65816 Join Date: Feb 2005 Location: Daegu, South Korea	Steal an apple, get a criminal record. Steal millions, get...off the hook. There are principals of justice that are applied vigorously to the commoner that are not applied to the aristocrats, for the "higher good". T'was ever thus. __________________ How a grown person can believe anything any politician says in this day and age is utterly beyond me. -Gerald Celente, http://www.trendsresearch.com/

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