There seem to be baseline shifts in the original document (could be an optical illusion, though, due to the poor quality of the copy). This could be because they were typed on a typewriter, or it could be because they were done in a program that allows for baseline shifting, or it could be a Photoshop filter. I can think of no explanation for the smart apostrophes, though, except for the computer angle.
It looks like some of the letters in the "CYA" memo are different point sizes. Look at the "y" in "any" as in "I don't have any feedback" and it looks completely different in size, almost hand-drawn, and lacking its upper serifs. Varying the point size would create the impression of baseline shifting.