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The granting of stock purchase options was pervasive in the volatile employment market in the high tech sector in the 90s. The options were used to both attract and keep highly talented engineers, programers, and designers. If the options weren't attractive enough, the employee or potential employee would merely move on to the best offer. Stockholders benefited from the practice because the companies they were invested in sought and held talent that increased the value of the companies and hence their stocks.
To me, attracting and retaining talent is a legitimate use of the stockholders' capital in the company. It is just as legitimate, if not more so, than a company investing their capital in brick and mortar that may not return anywhere near as much return on that capital as the talent bought for far less.
Yes. He is untouchable now that the Democrats are in power. Anyone who thinks anything else is an idiot.
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Former Vice President Al Gore Joins Apple’s Board of Directors CUPERTINO, California—March 19, 2003—Apple® today announced that Albert Gore Jr., the former Vice President of the United States, has joined the Company’s Board of Directors. Mr. Gore was elected at Apple’s board meeting today. “Al brings an incredible wealth of knowledge and wisdom to Apple from having helped run the largest organization in the world—the United States government—as a Congressman, Senator and our 45th Vice President. Al is also an avid Mac user and does his own video editing in Final Cut Pro,” said Steve Jobs, Apple’s CEO. “Al is going to be a terrific Director and we’re excited and honored that he has chosen Apple as his first private sector board to serve on.”
Here come the gummint, here come the shyster hyenas (there are already "stockholder" lawsuits) out to destroy another successful company, and I say this as no fan or user of Apple products. Let's hope that an ounce of wisdom prevails. Where and how did these cynical shysters find disgruntled Apple stockholders to file the lawsuits? It boggles the mind!
This has always been a non-story but is continued as part of the press' perpetual "apple is going out of business" theme.
>>>To me, attracting and retaining talent is a legitimate use of the stockholders' capital in the company.
As a publicly traded company, the CEO is not allowed to steal from the other stockholders -- even if his sycophant board of directors allow him. As I understand it, Jobs suggested some dates for backdating. I would believe that to mean that he participated in a fraud against other stockholders. The SEC should investigate and deliver the appropriate EXPENSIVE wrist slapping. Otherwise, why have the SEC if they can't keep clean the reporting by publicly traded companies. Remember the Enron!
Why would you bother to take seriously anything that Business Week says. It has talked down the economy throught the Bush presidency, and the last tiome I visited the site, it had ridiculous features like "Could Spider Man Be a CEO".
This is more of the same.
Duuuugh.. the democrats are in charge.. nevermind..
It gives me lots of schadenfruedelike pleasure to see this happening to Apple. Personally, I hope that Steve Jobs is given the Martha Stewart treatment.