Submitted by “Over the past years, the intrepid duo of James Bandler and Charles Forelle at the Wall Street Journal have helped unearth dozens of examples of options backdating at companies large and small. Their investigations of the dishonest practice have led to the resignation of dozens of top executives and investigations by the Securities and Exchange Commission and federal prosecutors. But the options scandal has never touched a more exciting company than Apple or a more thrilling executive than Jobs.”
Idiots. If there was proof that Steve Jobs knew about it and profited by it, then that is different. But he didn’t even activate his options.
Now if you want to go after someone. Go after Bill Gate and Microsoft for their monopolistic business practices which are so close to racketeering that I can’t see how they haven’t been hit with that. Now THAT would be something to do.
Idiots!
There is proof. RTFA. Jobs used his jedi mind tricks to get outta that one.
BillyG and Microsoft are not the ones in trouble here. Stay on topic.
LOL, I like your reaction. “Don’t touch poor Jobs, go bother someone else like Gates.” Pretty pathetic though that your judgment to be clouded by your love for Apple.
While Gates and MS definitely don’t have much ethics, I wouldn’t call him evil. Have you even heard of the “Bill and Melinda Gates Foundation” foundation? While some of their activities are questionable (expanding MS technologies), stuff like donating to HIV/AIDS vaccine research is hell a lot more than your sugar daddy Steve Jobs has been doing.
And I am not even a windows or gates fan. You need to become objective dude.
Microsoft and Bill Gates have already had their day in court or have you forgotten that already.
Of course, MS and Mr Gates should be targetted more aggressively for anti competitive behaviour. But we are talking one specific issue here, and the numbers are rather striking.
“It turns out there were literally thousands of examples of backdating at Apple — 6,428 options grants on 42 dates over a period of several years.”
In addition “the company gave Jobs a monster 7.5-million-share options grant dated Oct. 19, 2001, when the stock stood at $18.30. By doing so, the company gave Jobs $20 million in compensation for which it did not account properly. …It also pretended the options grant was approved at a special board meeting, when no such meeting occurred.”
Think about how this could have happened. Think about Board minutes, signoffs, financial controls. Just go through it step by step, and see if you still think they are idiots.
The question is, whether Apple is being run by the CEO and his Board competently and in compliance with the law. Nothing to do with Mr Gates. Nothing to do with if Jobs saved Apple or invented the iPod. Nothing at all, just is this lawful, prudent, competent behaviour, and did it happen on his watch?
but but… microsoft!
Before Steve Jobs came to apple, Apple’s option value was near zero $.
Today its near 100$ even after the split two years ago.
Yeah, we should punish him …
Because he helped save a company he should be able to do whatever he wants?
So, by your logic, were Martin Luther King still alive today he would be allowed to kill people?
I put about $0.75 in the jar for Cerebral Palsy this morning… can I illegally park for the day?
I find it very annoying. The blue one was better for Apple related stories. What’s the reason behind this?
The blue logo was outdated. Apple now mostly uses a white Apple, but you understand we cannot really use that. I’ll try to get the flat black logo up there, though.
what about a red, yellow or even a green apple with a worm if the story isn’t so good for Steve?
Bad article. Move along.
Steve has got one hell of an aura. The guy seems to be coated in teflon, the sh*t don’t stick. Gotta take my hat of to the guy for getting himself out of that one.
I’m not saying it good that he gets off, just that it’s pretty incredible.
This is really lame….its not like 80+ of the largetst companies on the Fortune,INC have not had trobule wit this stuff…The sweeping changes to stock options rules have had wide impacts on most public traded companies.
I thought this site was osnews not political advocacy about people who run a company that makes an OS news.
Sigh.
Can we get back the news about operating systems or is osnews just turning into the next /.
“””Can we get back the news about operating systems or is osnews just turning into the next /.”””
Yes. Let’s get back to bickering about licenses and the sort of posts we can be *proud* of! 😉
Edited 2007-01-09 17:09
My keyboard is licensed with GPLv3.0763-keyboard edition….
Unfortunately, I would be in violation of that license if I used the keyboard to respond to your post.
****DARN***
Edited 2007-01-09 17:13
“””My keyboard is licensed with GPLv3.0763-keyboard edition….”””
Now, you know as well as I do that “GPLv3.0763-keyboard edition” is just a draft. You really can’t criticize something that is just a *draft*.
But then, I’m sure you know that already. 😉
Edited 2007-01-09 17:32
Will he be obliged to leave the company?
Will he be obliged to stop having good ideas?
Will he be obliged to whatever?
If the CEO has commited a crime, yes he must be punished, but I guess *not* his ideas or the Company.
Yes, if he is guilty, he must pay. So what? Is this news?
wrong articel, but the iPhone is here!
http://www.mactechnews.de/mwsf2007ticker/index.html
Up $5 from yesterday. Big concern on Wall Street about this I guess.
He aided and abetted.
I can’t believe some of you would let Jobs off the
hook…..
Screw laws and ethics huh?
Edited 2007-01-09 19:43
He aided and abetted.
Not proven yet.
I can’t believe some of you would let Jobs off the
hook…..
Screw laws and ethics huh?
Screw objectivity huh?
With a rose, in and out of the garden he goes…
Stephen prosper in his time
Well he may and he may decline
Did it matter? does it now?
Stephen would answer if he only knew how
… is that Steve Jobs was awarded backdated options, but he didn’t know (this isn’t what I say, this is what they say). If this is true, even if Jobs didn’t know, he financially benefited. He should return the money to the company and the stockholders. He can afford it and still be a very rich man. That’s the solution that would be best for the company and the stockholders, and would come close to justice.
If it turns out that Jobs did know about it it’s another matter entirely.
Did you not read the article? Steve never benefitted from the backdated options.
For it to be a crime, Jobs must have been negligent or with intent committed the crimes of back dating the shares allocations.
While he may be a great guy or visionary, whatever, if he committed the crime, than he should have his day in court and found guilty; including those involved.
It would be a sham if they just went after Jobs only because he’s the top of the food chain; there are more people involved in this after all, bring them all down.
If a crime was committed, regardless of who he is, SEC should go after him!