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Apple Announces More Options Troubles

Posted by ryuzaki0 on from the setting-the-record-straight dept.

fremen writes "Apple today announced that they will be withdrawing their financial reports back to September 29, 2002 and delaying the filing of future reports after finding more backdated options problems. Companies backdate their stock options by looking back over a period of time and choosing a historical low as the option strike price. While not illegal, this must be fully disclosed to investors and properly accounted. Expect more uncertainty in the coming weeks as regulators must now uncover how much of Apple's record profits were incorrect as well as whether or not Steve Jobs will be able to continue leading the company."

5 of 159 comments (clear)

  1. Steve Jobs leading Apple by the+cleaner · · Score: 2, Interesting
    What could stop him in the long run?

    I mean, if he has leave, he's just going to come up with something bright and new (not "NeXT" this time, I vote for "TheOneAfter"), which is then going to be bought by Apple after a few years... :-)

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    Could be worse. Could be raining.
    1. Re:Steve Jobs leading Apple by alphasubzero949 · · Score: 3, Interesting

      What could stop him in the long run?

      His milking of the Mac for all its worth. Then he'll have to move on to the next big thing.

    2. Re:Steve Jobs leading Apple by Anthony+Boyd · · Score: 2, Interesting

      Wow, no funny mods for alphasubzero949? Did nobody get that the milk comment is an allusion to something Steve Jobs said about 8 or 9 years ago? I think what Steve said was something like 'If I were in charge of Apple, at this point all I could do would be to milk the Macintosh for all it's worth, and sell the company off."

      -Tony

      --
      My Greasemonkey scripts for Digg &
  2. "...whether or not Steve Jobs will be able to..."? by oDDmON+oUT · · Score: 4, Interesting

    The only mention in the article of Jobs is:

    "Apple said in June that one of the stock option grants was to chief executive Steve Jobs, but it was subsequently canceled and resulted in no financial gain to Jobs."

    So why is there some statement quoted questioning the continued status of Jobs as CEO?

    Seems like someone is playing fast and loose with the article.

    --
    Some days it's just not worth
    chewing through my restraints.
  3. Nancy Heinen by thefinite · · Score: 2, Interesting

    Do you think this is why Nancy Heinen left? They never did give a good reason for her leaving. Maybe she wanted to make the misinformation public and they disagreed. Or maybe she was the reason for the mistake...

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    Boom Shanka