Wednesday, April 25, 2007
Jobs dodges a bullet
It seems Jobs is a lucky man given that the SEC has decided not to charge him with any wrongdoing in the backdated options issue. If you don't know, Apple's (former?) CFO has publicly stated that Jobs was aware of the backdating after he himself was being charged. This whole mess seems to really stink. I find it hard to believe that Jobs could be so nieve to not understand the implication of backdating options. But he did end up getting a bye. This whole deal seems like something Apple would never do. Maybe this practice has become so rampant in corporations that it didn't seem like a crime anymore. Hats off to the SEC for doing a cleanup job of this type of shady dealings. I hope Apple stays clean here on out.
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4 comments:
I would think it was more the fact that no one was considering it to be really wrong. Everyone is doing it! I think after this everyone will think twice about doing stuff like that, including Jobs!
(For myself, I choose to take the high road. I have never back dated by considerable stock options relating to my lofty position.)
I agree that it's more of a situation where it was common practice, but that the SEC is cracking down on it right now, and Apple currently has a very high profile, making it a natural target. I don't think that Jobs had much to do with it, but he needs to be aware of these things in the corporate environment of today.
-Le
McFan you must understand that in order for backdating to beneficial. Your stocks need to appreciating in value. Is this the case with yours?
Absolutely! Everyone appreciates my stocks!
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