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[News] Apple Approached Palm with "Likely Illegal" Proposition

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Palmâs Colligan Said to Snub Jobsâs Recruiting Offer

,----[ Quote ]
| Former Palm Inc. Chief Executive Officer Ed Colligan rejected a proposal from 
| Apple Inc.âs Steve Jobs to refrain from hiring each otherâs employees two 
| years ago, calling it wrong and âlikely illegal,â according to their 
| communications.   


Palm rejected Jobs's 'no poaching' Applers offer

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| Two years ago, Apple chief exec Steve Jobs suggested to Palm's then-CEO Ed 
| Colligan that the two companies agree not to hire each other's employees. 
| Colligan reportedly refused, saying such a deal would be "likely illegal".  



Apple options backdating litigation still not over

,----[ Quote ]
| Just when Apple watchers thought the backdated options issue was on the verge
| of being put to bed, another suit is taking the limelight.


Apple agrees to pay itself $14m

,----[ Quote ]
| After an internal investigation, the company blamed ex-financial chief Fred
| Anderson and ex-general council Nancy Heinen for the trouble. Anderson
| settled with the SEC for $3.5m without admitting wrongdoing, and Heinen paid
| $2.2m just last month for a similar arrangement.


Former Apple lawyer settles options case with SEC

,----[ Quote ]
| Former Apple general counsel Nancy Heinen has settled with the SEC over
| charges that she improperly backdated stock options at the company.


Ex-Microsoft boss sentenced


Broadcom boss will be jailed

,----[ Quote ]
| IN A MOVE that will send a shiver through the IT business community, a
| federal judge has decided that conning cash out of shareholders using dodgy
| backdating will get you sent to jail.


SEC charges Broadcom founder, gen counsel

,----[ Quote ]
| The men schemed from 1998 to 2003 to secretly backdate stock option grants,
| which forced the company to eventually restate its financial results and
| report more than $2 billion in extra compensation expenses, the SEC said in a
| statement.


Oracle's Ellison Withheld E-Mails in Suit, Judge Says (Update2)

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| Oracle Corp. Chief Executive Officer Larry Ellison deliberately destroyed or
| withheld e-mails and failed to preserve tape recordings that should have been
| turned over to lawyers for shareholders suing him, a judge ruled.
| U.S. District Judge Susan Illston in San Francisco said yesterday that the
| e-mails, as well as recordings of interviews for a book about Oracle founder
| Ellison called ``Softwar,'' were willfully withheld. Ellison and Oracle knew
| the material was potentially relevant to claims that they made false
| statements about the company's 2001 second-quarter financial results and
| problems with a software product, Illston said.


Novell fraud lawsuit settled for $13.9M.

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| After more than seven years in the courts, Novell will spend $13.9 million to
| make a securities fraud class-action lawsuit go away.


Microsoft's Accounting Under Scrutiny

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| The company has still not made enough information public to provide analysts
| with detailed information on the profitability of its MSN Internet business,
| Mr. Galvin said, adding, ''There's still room for them to obfuscate.''


Microsoft - Undeserving of Libertarian Praise

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| One strategy that Microsoft has employed in the past is paying for the
| silence of people and companies. Charles Pancerzewski, formerly Microsoft's
| chief auditor, became aware of Microsoft's practice of carrying earnings from
| one accounting period into another, known as "managing earnings". This
| practice smoothes reported revenue streams, increases share value, and
| misleads employees and shareholders. In addition to being unethical, it's
| also illegal under U.S. Securities Law and violates Generally Accepted
| Accounting Practices (Fink). Mr. Pancerzewski claims he was forced to retire,
| for raising the issue of deferred earnings with Microsoft executives, thereby
| making plausible deniability more difficult for said executives. He has since
| sued Microsoft, who responded by settling out of court, but also sealing the
| records to prevent public disclosure (Fink).


Microsoft Agrees To Refrain From Accounting Violations in SEC Settlement

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| Microsoft has agreed to refrain from accounting violations to settle federal
| regulators' allegations that it misrepresented its financial performance, the
| government announced Monday.
| Under a settlement with the Securities and Exchange Commission, the software
| giant neither admitted to nor denied wrongdoing. No fine was imposed.
| The SEC alleged that Microsoft's accounting practices from July 1994 through
| June 1998 caused its income to be substantially misstated.


"Microsoft Tax," MSN Enters the Black Hole, New Names for NT

,----[ Quote ]
| The lawsuit, filed last year by Mukilteo City Councilman Charles
| Pancerzewski, alleges that he was forced to resign as Microsoft's general
| auditor in January 1996 after working for the company's internal auditing
| department for more than four years. The suit claims that a "significantly
| younger man" with little auditing experience was picked to replace
| Pancerzewski, who was finally forced out because he discovered Microsoft
| might have been violating government regulations. Once Pancerzewski left the
| company he was replaced by the younger man, who his attorneys believe
| was "less prone to raise issues of possible legal improprieties which could
| threaten or embarrass Microsoft or its management.


SEC Investigating Microsoft Practices -- Earnings Manipulated, Former Employee

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| "The CFO to whom Charlie was reporting his concerns about illegality was the
| biggest advocate for the very illegality that was going on," Vial argued in
| court a year ago.



,----[ Quote ]
| THE ALLEGATIONS WERE shocking: For years, Microsoft has systematically
| distorted its profit figures in an effort to consistently beat Wall Street
| expectations and keep its stock price steadily rising. The false reports
| would violate SEC regulations, and amount to outright fraud.
| More shocking was the source of the allegations: Microsoft's chief of
| internal audits, Charlie Pancerzewski, who reported directly to the company's
| chief financial officer.
| Most shocking of all was what happened to Pancerzewski when he reported the
| suspicious bookkeeping to his supervisors, Microsoft CFO Mike Brown and chief
| operating officer Bob Herbold, in the spring of 1995. Soon afterward,
| Pancerzewskiâwho for nearly five years had received stellar performance
| evaluationsâreceived his first-ever unsatisfactory one, and was eventually
| forced to resign.
| Two months ago, Microsoft quietly settled a lawsuit containing these
| allegations, filed in 1997 by Pancerzewski under the Whistleblowers
| Protection Act. The auditor claimed he was wrongfully terminated after
| telling his supervisors that Microsoft might be breaking securities and tax
| laws. The lawsuit made its tortuous way through several rounds of pretrial
| motions until last fall, when US District Judge Carolyn Dimmick denied
| Microsoft's final plea for summary judgment, finding credible evidence that
| Microsoft may have violated SEC rules, as Pancerzewski alleged. Shortly
| thereafter, Microsoft and Pancerzewski settled out of court. Terms of the
| agreement were sealed, but one source who claims familiarity with the case
| says that Microsoft paid Pancerzewski $4 million.


Ecuador Tax Agency Closes Microsoft Branch Offices For 7 Days

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| "We have twice requested balances, payment reports and complete tax
| information, but the company hasn't given it to us, so in accordance with our
| laws we have proceeded with the closure," the SRI official in charge of the
| proceeding said.  


Microsoft Office raid in Hungary

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| "Such behavior could lead to the exclusion of competitive products from
| the market and violate European Union rules, according to the authority
| known as the GVH."


Microsoft exec dumped stock prior to Red Ring announcement

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| To make matters more murky, the sales were not registered with the Securities
| and Exchange Commission within the mandatory two days of the transaction, a
| result of an alleged "administrative error." Microsoft has since remedied the
| issue by following the "procedures required of late-filers."  


Microsoft's Bach sold more stock before Xbox news

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| Microsoft Corp. executive Robbie Bach sold $3 million more in company stock
| during the period leading up to an announcement about a costly flaw in its
| Xbox video game console than previously reported, according to a filing
| Monday with the Securities and Exchange Commission.  


Insider Trading Hasn't Affect Microsoft Stock - Yet

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| MarketWatch.com reports that Robbie Bach, president of Microsoft's
| Entertainment and Devices division, sold $6.2 million of Microsoft
| stock just prior to announcing that Microsoft was going to have to
| extend XBox 360 warranties to three years because of extensive
| failures. The filings note that this was not part of any
| scheduled diversification or selling program; this was a
| conscious, unscheduled sale by the guy in charge of releasing
| news that could affect the value of Microsoft stock.
| [...]
| Insider trading is a very serious violation of the law; just
| ask Martha Stewart, who served five months in prison for
| avoiding losses of $43,000 through trades that just had suspicious
| timing (no insider trading was actually proven). This is $6.3
| million that went straight into Robbie Bach's pocket.


[Mandriva CEO:] An open letter to Steve Ballmer

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| Wow! Iâm impressed, Steve! What have you done for these guys to change their
| mind like this? Itâs pretty clear to me, and it will be clear to everyone.
| How do you call what you just did Steve, in the place where you live? In my
| place, they give it various names, Iâm sure you know them.  
| Hey Steve, how do you feel looking at yourself in the mirror in the morning?
| Of course, I will keep fighting this one and the next one, and the next one.
| You have the money, the power, and maybe we have a different sense of ethics
| you and I, but I believe that hard work, good technology and ethics can win
| too.  

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