Yesterday, Apple Computer's stock went haywire after a report, late in the day, suggesting that Steve Jobs received options in 2001 without any authorization from the Board of Directors.
The London Financial Times said that records were falsified to make it appear that the grant of 7.5 million options had been approved by the Apple Board. Legal action against the company and individuals is being considered.
Meanwhile, the SEC said it is probing about 200 companies for possible backdating.


Comments: 18
I'd like to know more about the situation before hand out a judgement.
It is also evident that his many fans do not want to see him go down.
Nevertheless, what is written here are the facts as they are known today, and time will tell if they are true and if he was personally involved, or if something was done on his behalf without his knowledge.
He only takes $1.00 a year for his salary.
Look at the other greedy bastards that make Gazillions and they back dated the heck out of their own stocks.
Jobs was cleared of wrong doing this morning.
Apple has been evil for longer than I can remember. They have proprietary everything and charge an arm and a leg for it because you can't get it anywhere else. They make a more stable pc because they have complete control over the hardware and software. The downside is the inflated price. The "immunity" to viruses, worms, et al is the result of Apple's low market share. People who write that stuff can't become famous crackers if they do it to Apple. Any operating system can be compromised and the effort involved isn't that different from OS to OS.
Don't get me started on Itunes and DRM. Let's just say "abomination" and let it go.
Jobs is a good example of predation in the market place. He has used the computer marketing formula FUD--fear, uncertainty, and doubt--just like Micro$oft, IBM, and nearly every other big company in the computer business. I guess he's good at selling computers but Mussolini was good at making the trains run on time.
IDG News Service 12/29/06
Nancy Gohring, IDG News Service, Dublin Bureau
An investigation into past stock option grants at Apple Computer Inc. has found that Chief Executive Steve Jobs was aware of procedural irregularities but did not benefit personally from the grants or understand the accounting implications.
http://www.itworld.com/Man/2698/061229jobsclear/index.html
Of course that is not a SEC review.