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APPLE BOARD: CEO JOBS KNEW OF BACKDATING BUT DIDN'T BENEFIT
Market Watch ^
| 29 December 2006
| Steve Goldstein & Matt Andrejczak
Posted on 12/29/2006 2:20:52 PM PST by MeneMeneTekelUpharsin
SAN FRANCISCO (MarketWatch) -- Apple Computer Inc. said Friday that Chief Executive Steve Jobs "was aware [of] or recommended" some favorable stock-option grant dates but cleared him and other current management of any wrongdoing. Apple also said it faked a special board meeting and would absorb $84 million in charges linked to misdated stock options. The findings alleviated some investor concerns, with AAPL84.84, +3.97, +4.9%) shares rising 5% to $84.84 Friday, punctuating a tumultuous week. "We believe that investors can now focus on the fundamentals, including pending product launches," in 2007, wrote Banc of America Securities analyst Keith Bachman, who rates Apple shares a buy.
(Excerpt) Read more at marketwatch.com ...
TOPICS: News/Current Events
KEYWORDS: appleoptions; backdating; enron; jobs
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"Faked a board meeting"!!! What? Read the rest of the story at the link. Al Gore stands up for Jobs -- that should count. Jobs know about the options grants, but did nothing. This is all a bit scary now.
To: MeneMeneTekelUpharsin
Liberals are intellectually and actually dishonest.
It's not surprising.
2
posted on
12/29/2006 2:22:49 PM PST
by
MeanWestTexan
(Kol Hakavod Lezahal)
To: MeneMeneTekelUpharsin
But, but, but...Apple is so cool, can't be hacked and helps grow back hair.
3
posted on
12/29/2006 2:23:11 PM PST
by
toddlintown
(Six bullets and Lennon goes down. Yet not one hit Yoko. Discuss.)
To: MeneMeneTekelUpharsin
Steve Jobs "was aware [of] or recommended" some favorable stock-option grant dates but cleared him and other current management of any wrongdoing. Yeah. The Fannie Mae executives didn't benefit from their shady deals, either.
4
posted on
12/29/2006 2:24:19 PM PST
by
Excuse_My_Bellicosity
("A litany of complaints is not a plan." - GW Bush, referring to DNC's lack of a platform on ANYTHING)
To: MeanWestTexan
Most of the financial media seem to be announcing this as if it is no big deal. Apple to 'da moon! Should be okay...
5
posted on
12/29/2006 2:24:20 PM PST
by
MeneMeneTekelUpharsin
(Freedom is the freedom to discipline yourself so others don't have to do it for you.)
To: MeneMeneTekelUpharsin
Faked a board meeting, and cost the company $84,000,000 but Jobs didn't benefit from it. Well someone did at the cost of a cool $84 million. I would think faking a board meeting would at the least constitute fraud.
6
posted on
12/29/2006 2:28:32 PM PST
by
Racer1
To: MeneMeneTekelUpharsin
In Friday's statement, former Vice President Al Gore, the chairman of the special committee, and Jerome York, the chairman of the board's audit and finance committee, said the board is confident that the company has fixed the problems relating to the restatement and has "complete confidence" in Jobs and the senior management team.
Al gore got to the bottom of it.
/s
7
posted on
12/29/2006 2:28:34 PM PST
by
kinoxi
To: toddlintown
But, but, but...Apple is so cool, can't be hacked and helps grow back hair. Back hair? Do you mean it restores hair that was lost, or that it puts hair on one's back? (I could use the former, but not the latter.)
8
posted on
12/29/2006 2:29:11 PM PST
by
Logophile
To: Logophile
Clintonian doublespeak.. Who "faked" a special board meeting? Who,, should be imprisoned? Taking an 80 million dollar charge against the shareholders in this case is a..crime.
9
posted on
12/29/2006 2:41:05 PM PST
by
samadams2000
(Someone important make......The Call!)
To: samadams2000
Clintonian doublespeak.. Who "faked" a special board meeting? Who,, should be imprisoned? Taking an 80 million dollar charge against the shareholders in this case is a..crime. It certainly does not look good.
To: MeneMeneTekelUpharsin
The fake board meeting voted for the options before they voted against it.
11
posted on
12/29/2006 2:45:42 PM PST
by
Proud_USA_Republican
(We're going to take things away from you on behalf of the common good. - Hillary Clinton)
To: Racer1
I would think faking a board meeting would at the least constitute fraud. Stock went up today. Nothing will come of it.
12
posted on
12/29/2006 2:48:06 PM PST
by
MeneMeneTekelUpharsin
(Freedom is the freedom to discipline yourself so others don't have to do it for you.)
To: Logophile
"Do you mean it restores hair that was lost, or that it puts hair on one's back?"
Both. And it can cure cancer too. We're Apple! We can do anything!
13
posted on
12/29/2006 3:05:14 PM PST
by
toddlintown
(Six bullets and Lennon goes down. Yet not one hit Yoko. Discuss.)
To: MeanWestTexan
Gore has been on their board since, I believe, 2001. Did he participate in faking the meeting?
To: Logophile
I have it from very reliable sources, that Shania twain has a 'thing' for guys with back hair.
15
posted on
12/29/2006 3:34:21 PM PST
by
brooklin
To: vrwconspiracist
No, he'd drunk too much iced tea and had to go pee.
16
posted on
12/29/2006 3:37:06 PM PST
by
Erasmus
(Able was Bob ere Bob saw Elba.)
To: MeneMeneTekelUpharsin
They faked a board meeting and shareholders have to eat $80 million? And no one goes to the klink for it?
17
posted on
12/29/2006 3:37:51 PM PST
by
mysterio
To: mysterio
They faked a board meeting and shareholders have to eat $80 million? And no one goes to the klink for it? Here's why: Fundrace.org (Jobs donations)
Jobs and his wife are big-time Democratic and environmental donors. If Jobs had donated to Republicans and conservatives, this would story #1 in the news.
18
posted on
12/29/2006 4:08:22 PM PST
by
Azzurri
To: Azzurri
I hate to say this, but I've reached a level of cynicism so deep that I actually agree with your assessment.
19
posted on
12/29/2006 4:36:09 PM PST
by
ECM
(Government is a make-work program for lawyers.)
To: toddlintown
Doesn't Apple make those Fisher-Price computers?
20
posted on
12/29/2006 4:40:04 PM PST
by
AmishDude
(It doesn't matter whom you vote for. It matters who takes office.)
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