Steve Jobs questioned by SEC.

[Rockefeller]

Story

Andrew Clark in New York
Wednesday January 24, 2007
The Guardian


Apple's boss Steve Jobs has been questioned by US government investigators about the company's alleged misuse of stock options, which has become the subject of a flurry of litigation.


It emerged yesterday that Mr Jobs was interviewed last week by the US Justice Department and the Securities and Exchange Commission. Mr Jobs was granted 7.5m share options in 2001. Apple has since admitted that the options were backdated by two months to make them more valuable - and that the records of company board meetings were falsified.

 

[jasdon11]

Interesting story - BTW Rock, are you an insomniac?

 

[Rockefeller]

no, i work nights...close though.

 

[Focus]

ruh roh

 

[Creature]

It emerged yesterday that Mr Jobs was interviewed last week by the US Justice Department and the Securities and Exchange Commission. Mr Jobs was granted 7.5m share options in 2001. Apple has since admitted that the options were backdated by two months to make them more valuable - and that the records of company board meetings were falsified.

Would that be as serious as the Enron thing or would Apple just get a fine?
(Interesting Enron site: www.enronmovie.com)

 

[Focus]

How much you wanna bet he pays them off in iphones?

 

[jasdon11]

Would that be as serious as the Enron thing or would Apple just get a fine?
(Interesting Enron site: www.enronmovie.com)

Not in Enrons league, but a serious issue - false accounting is a prisonable offence - it is in the UK, so I'm damn sure it is in the States too.

Question: How many phone cards can you get for a Mac these days?

 

[Gerry]

BIG STORY and the SEC is hot on the trail of many of these backdated stock options. Many more will follow and many more will fall. Stockholders are savvy and want answers to over compensation for execs while the stock in the commode. Not that APPLE is in that same class of falling stock, but this is still considered a huge no no!

Gee, why did this not get plastered all over the networks?

 

[MobileDesigner]

they did have a problem getting profit before the sale of Zunes and iPhone. Just a little side job wouldnt hurt, would it!? This will be interesting! I bet Bill Gates laughing at this one!

 

[Rockefeller]

The SEC is already involved..I don't think this will be taken lightly.