Apple board backs Jobs against ex-CFO allegations shock
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| Apple's Board of Directors is backing CEO Steve Jobs after former
| CFO Fred Anderson accused Jobs approving the company's stock
| option backdating. Anderson settled civil charges against him
| Tuesday without admitting any guilt, but agreeing to pay back
| approximately $3.5m to make up for personal gains in the scandal.
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http://www.theregister.co.uk/2007/04/25/apple_q2_revenues_2007/
One might guess that there's a lot of cover-up work going on. There's no
Apple without Jobs, so somebody else may ultimately take the blame
(deliberately, or maybe a scapegoat).
Related:
Options troubles aren't over for Apple
,----[ Quote ]
| But one of the accused -- former Chief Financial Officer Fred Anderson --
| pointed a finger at his former boss, Steve Jobs, raising new accusations
| that experts say could land Jobs in some legal hot water if true.
|
| [...]
|
| Gene Munster, a financial analyst at Piper Jaffray, said Anderson's
| accusations will fuel investors' worries over Jobs and his critical role in
| Apple's continued success.
|
| "It gives the appearance that, 'I had a partner in crime and it was Steve
| Jobs,'" Munster said.
`----
http://news.yahoo.com/s/ap/20070425/ap_on_hi_te/apple_stock_options
Microsoft's past stock options practice poses questions
,----[ Quote ]
| Microsoft in 1999 announced that it would end a policy of awarding
| options at monthly lows and said it would take a $217 million charge,
| though many details of that discontinued practice haven't been widely
| known, The Wall Street Journal said Friday.
|
| Those details raise questions about how Microsoft began the practice,
| what prompted the company to end it and whether the way the options
| were dated--at 30-day lows the month after they were
| granted--influenced other companies, it said.
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http://news.zdnet.com/2100-3513_22-6084617.html
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