Jobs & Options = Downfall?

Discussion in 'Apple, Inc and Tech Industry' started by jessep28, Oct 5, 2006.

  1. jessep28 macrumors 6502

    jessep28

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    Sep 8, 2006
    Location:
    Omaha, NE
    #1
  2. kgarner macrumors 68000

    kgarner

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    Jan 28, 2004
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    Utah
    #2
    From the article:
    Sounds like he is more in warm water, than hot water.
     
  3. Silencio macrumors 68020

    Silencio

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    Jul 18, 2002
    Location:
    NYC
    #3
    The SEC dropped its own investigation into Apple's stock options backdating mess. Apple's investigation team is voluntarily handing over their findings and info to the SEC, which does raise the possibility that they could re-open their inquiry.

    The question is who the two (former?) executives are that benefitted from the backdating, and what will become of them...
     
  4. Queso macrumors G4

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    Mar 4, 2006
    #4
    It's been speculated that one of the executives was Fred Anderson, but it's just speculation at the moment. I can't see how Steve can take the flack when he didn't benefit from the deal, especially if told by his CFO that all was above board.

    We will see.
     
  5. patrick0brien macrumors 68040

    patrick0brien

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    Oct 24, 2002
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    #5
    This is no big deal. Enron/Worldcom this is not.

    If anything, 'ol Fred screwed up. The rules for stock options at that time were changing daily. I'm not surprised this occured at all.

    In fact, I'm a little suspicious we haven't heard about other companies doing this self-audit.
     
  6. PlaceofDis macrumors Core

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    Jan 6, 2004
    #6
    oh they are. Microsoft included i believe.
     
  7. IJ Reilly macrumors P6

    IJ Reilly

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    #7
    That's sort of a Ken Lay defense, which I don't think works anymore. I don't expect Steve to be found culpable of any actual wrongdoing, but it is appropriate for him to admit that as CEO he should have exerted more oversight.

    (Yikes, my 4,000th post. Fortunately not all on this topic.)
     
  8. Peace macrumors P6

    Peace

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  9. asphalt-proof macrumors 6502a

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    Aug 15, 2003
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    Magrathea
    #9
    Steve Jobs went out and took responsibility and apologized for the incident. This, alone, does a lot to diffuse a problem. Something that I wish political leaders would learn. :rolleyes:
    I don't see any major fallout for Apple or SJ because of this.
     

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