I thought Jobs was understating his illness all along, but I’m terribly pessimistic regarding Apple. We’ll see if this gets swept under the rug and made “okay” somehow, like the options backdating.
You always choose the worst connotations to things where ever Apple is concerned, Troll. Facts actually are more important than your unsupported opinion.
The "options backdating" was anything but "swept under the rug." It was headline news for over a year. Several stockholder lawsuits were tossed out of court because the plaintiffs could not demonstrate that Jobs' compensation had in any way damaged them... and in fact, the judge in the cases commented that Jobs had enriched them far beyond the few pennies per share they were claiming might have been the impact of ALL of the backdated options for ALL of Apple's employees who received them.
Both an internal and an SEC investigation were made of Jobs involvement in the option backdating, which was and is perfectly legal so long as it is properly accounted, and Jobs was found to have not been involved. He had properly recused himself from board meetings where his compensation was discussed. They found he did suggest some dates for back dating options for other employees, but he was not instrumental in giving them, setting the dates, or voting on the compensation packages. and, the SEC found, he properly sought and relied on legal advice.
An Apple executive was fired over the backdating. Nancy Heinmen, Apple's Chief Legal Officer was fired, indicted by SEC, and eventually fined $3 million for some shenanigans she did to facilitate the options. She failed in her duty to properly advise the board of the legalities, but most importantly, she took it on herself to try and fix a small problem with the fact the board had voted on Jobs' options on August 29, but the paperwork was not finished until sometime in October, after the start of a new fiscal year. She found that company by-laws require such stock options to be granted in the fiscal year the board voted them... so instead of calling a new board meeting to revote the options, she created minutes for a board meeting in October for a meeting that never occurred, showing a duplicate vote, She then selected a date for the options that the stock price was the lowest of the new fiscal year but still FAR above the price on the date on which the options were first approved in August. Because of these shenanigans and the delay, Jobs actually LOST money from what he would have received had the options been granted when originally voted.
Heinman is appealing the decisions.
Option backdating wasn't an issue for Jobs since he made no money. It was mainly an issue of the post-Enron accounting changes.
Here, no person is required to disclose health issues, and there are definitely laws against a company releasing health information about its employees and officers. Apple could have said absolutely nothing about his health, only releasing that he will be taking leave.
The only way this is SEC business is if Jobs purposely manipulated the release of health information in order to profit from stock price changes -- basically the use of insider information. I highly doubt you will find that happened.
> I thought Jobs was understating his illness all along...
Jobs is IMO a very foolish person with regard to his personal health -- way too "groovy" and NewAge for my liking. I doubt he was intentionally understating his illness, I just think he was being oblivious due to thinking he could cure it with herbals and meditation.
Full disclosure: I use herbals and meditate, but I also use Neosporin and get a PSA done every few years (I'm 57 and male). No one discipline has all the answers.
> but I’m terribly pessimistic regarding Apple
No, really? I'm shocked, THC, I never would have guessed. ;-)
It's a free country, be as pessimistic as you like. I'm pessimistic about Jobs' long-term prognosis, but I think Apple will do just fine, with a few hiccups as they adjust.