Apple CEO Jobs Subpoenaed In SEC Backdating Probe

The Wall Street Journal   |  STEVE STECKLOW and NICK WINGFIELD   |   September 20, 2007 08:35 PM


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Steve Jobs, Apple Inc.'s chief executive, has been subpoenaed by the Securities and Exchange Commission to answer questions in a stock-options backdating case against Apple's former general counsel, according to a person familiar with the matter.

The subpoena, issued last month, isn't an indication the SEC is targeting Mr. Jobs, say two people close to the case. Mr. Jobs is being asked to give a deposition in a civil suit brought in April by the SEC against Nancy Heinen, Apple's former general counsel. Ms. Heinen, who left the company in May 2006, is accused of helping to manipulate one of her own stock-option awards and a grant to Mr. Jobs, and falsifying company records to conceal the alleged fraud

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You should publish articles denouncing scum like blackwater instead of wasting our time with uninformed articles about nonevents.

    Favorite    Flag as abusive Posted 03:21 PM on 09/21/2007

Talking about the SEC...where the hell are they in this Dubia/Nasdaq illegal trade? DP ports world failed to get our ports in 2005..Now the bush cabal is giving them access into our financial system with a 20% stake.

Worse..Carlyle Group just sold a 7.5 % stake in their 'shady' company to Abu Dhabi (UAE) yesterday.

Check my new post. Digg it if you like, I'm just searching for the truth.
http://newssophisticate.blogspot.com/2007/09/carlylehaliburton-show-is-going-into.html

and the SEC is concerned with backdating...Hmmm?

    Favorite    Flag as abusive Posted 02:57 PM on 09/21/2007

Could Microsoft be next? Hmm....

    Favorite    Flag as abusive Posted 02:20 PM on 09/21/2007
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FYI

Jobs was cleared of any wrongdoing months ago by the SEC.

Keep up people.

    Favorite    Flag as abusive Posted 12:20 PM on 09/21/2007

That was my point in a post a little bit ago. Most of the posters did not read the article, just the headline

    Favorite    Flag as abusive Posted 12:25 PM on 09/21/2007

Yo. "Two people close to the case" means Jobs lawyers. And saying that someone "isn't a target" generally means "not a target . . . yet." That's lawyer speak.

Let's see what happens.

    Favorite    Flag as abusive Posted 08:40 PM on 09/21/2007

Yeah, but as a member of Disney's Board of Directors,Jobs pushed The Path to 9/11, and spun that day to favor Bush, meanwhile besmirching the memories of 3,000 dead Americans. So gee, what's a little white-collar crime between friends?

I personally hope to see Jobs in jail, but it ain't going to happen.

    Favorite    Flag as abusive Posted 11:50 AM on 09/21/2007

I've always just assumed that Jobs and (Bill) Gates run a shared monopoly.

Apple does the innovating (iPod) and then Microsoft comes in and builds on what works (Zunes).

Without Apple around, Microsoft would pretty much have a defacto monopoly in the computer industry, and as the two seem to be close friends I would guess that they work together to insure legal culpability mutual profit.

Its just a theory of mine -- I've always seen big business as being about who can cheat the most and not get caught.

    Favorite    Flag as abusive Posted 11:48 AM on 09/21/2007

I have to agree with that. Between the two of them they control like 99% of the operating systems market. OPEC only controls 35% or so of the oil market and they're routinely called a "cartel." So by that standard Apple and Microsoft certainly constitute a "cartel."

    Favorite    Flag as abusive Posted 02:23 PM on 09/21/2007
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nihilon_x

Without Apple around, Microsoft would pretty much have a defacto monopoly in the computer industry
-------------------------------------------------

Well, why do you think MS/Gates invested so heavily in Apple back in the mid 90's to keep them alive?? Gates only wants controlled competition, obviously. ;) As far as the innovation lie, lol, what has Apple innovated in the last 10 years since MS/Gates bailed them out? They didn't invent the cellphone, or mp3 playing cellphone, or internet surfing cellphone, or even an mp3 player, or even a naptster clone that they now make.... everything they are currently doing, has been done already by someone else for years.

Course, the remaining Beatles could reform and put out a new album, and these same would claim the Beatles invented rock n roll in 2007.

    Favorite    Flag as abusive Posted 04:59 PM on 09/21/2007
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Business and ethics parted over forty years ago, to the degree that it
existed at all. Today, if you're not cheating, you're not even in the game.

Those who pay all their taxes, obey all the rules and report on their
performance factually, are left far behind their competition.

    Favorite    Flag as abusive Posted 11:42 AM on 09/21/2007

Are you people reading the article or just commenting on the misleading headline?

As you all know if you have read the article Jobs, was arrested and is now being questioned by gruff talking detectives in a smokey interrogation room down at the station.

    Favorite    Flag as abusive Posted 11:34 AM on 09/21/2007

Are the rich necessary?

    Favorite    Flag as abusive Posted 11:21 AM on 09/21/2007

Jobs' real sin is not just backdating but BWD, otherwise known as "backdating while Democrat". As is well known, Jobs has been a stalwart supporter of Al Gore and an advocate of a Gore presidential candidacy. When the Democrats take over the White House and Congress in 2008, things will normalize in Jobs' relations with the SEC. As they should.

    Favorite    Flag as abusive Posted 11:20 AM on 09/21/2007

What an idiot.

Apple is such a greta money making company , litteraly money rolling in hand over fist, that he didn't need to do such crap.

    Favorite    Flag as abusive Posted 10:51 AM on 09/21/2007

Innocent unless proven guilty; however, what were the "auditors" protecting or doing, if anything? And who benefitted, and who got short-changed on the backdating? How many CEO's believe ethics is for others, and doesn't apply to them? Any time is a good time to stop the financial cancers that corrupt work life and American capitalism. Let's see the details.

    Favorite    Flag as abusive Posted 10:47 AM on 09/21/2007
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If Steve Jobs is guilty, he should have to pay a fine, but no jail time.

What would we do without those fine electronic baubles me makes?

Steve Jobs is a cultural treasure, despite his huge ego, insensitivity and social myopia.

    Favorite    Flag as abusive Posted 10:33 AM on 09/21/2007
- LIR I'm a Fan of LIR permalink

Oh bologna...his stuff is crap...period...hope he gets taken to the cleaners...

    Favorite    Flag as abusive Posted 11:15 AM on 09/21/2007

Jobs' claims don't add up for me. This is from the WSJ article the post links to:

"Apple has acknowledged backdating options grants, and said Mr. Jobs helped select dates for some of the backdated grants. But it has steadfastly contended he isn't guilty of any wrongdoing, in part because he didn't "appreciate the accounting implications" of backdating options. The SEC has said it has no plans to file any charges against Apple."

He didn't "appreciate the accounting implications." Really? (Love the term 'appreciate'.) He's been a corporate executive now for 30 years or so. He has run two major corporations over the years (Apple and Pixar), a smaller one (Next) and is now involved in the management of one of the biggest ones in the world (Disney, now owners of Pixar). Stock options are a very big deal in the high-tech and corporate worlds he's been living in for 30 years, one of the major methods of compensating executives, and he's extremely financially savvy. Extremely!!! And he wasn't aware of the rules regarding them? That's awfully hard to believe, in fact bordering the impossible.

More to the point, he is widely known to be a total control freak, and according to all accounts demands to know about every little detail of everything Apple does. And I mean every little detail. He's famous for that, world famous for it in fact. And he wasn't aware that any of this was going on? This is awfully hard to believe, at least for me. Just doesn't add up.

BTW, Al Gore is one of Apple board members, and was all during the period this was going on. And he also didn't know anything about this? I don't know what they've been doing, but as they say, where there's smoke, there's fire.

    Favorite    Flag as abusive Posted 02:06 AM on 09/21/2007
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