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9/14/2008
Apple Settles Backdating Lawsuit
7/10/2008
Apple Off the Hook on Options
Backdating Concerns Rise from the Ashes for Apple
Macbook Air
Ahhhh, Macworld
Apple's Former General Counsel Comes Back Swinging
Judge Skeptical of Apple Backdating Suit
Apple Backdating Investigation Turns Toward the BOD
Former Apple CFO Makes Deal, Tells Tales on Jobs
Apple's Steve Jobs a Likely to Avoid Criminal Charges in Stock Options Probe
Steve Jobs - Not Out of the Woods Yet
Steve Jobs and Stock Options...a Turning Point?
Apple Stock Option Class Action Has a Lead Plaintiff
Apple Facing Federal Probe on Stock Option Backdating
Steve Jobs: A Syllogistic Defense
Backdating Schmakdating! Bask in the Glory of the iPhone 1/08/2007
Why Steve Jobs Should Resign
Apple Stock Options Investigation - It's Not Over Yet
Holiday Catch-Up - What'd I Miss?
Apple Avoids SEC Investigation on Options Backdating
Apple Settles Backdating Lawsuit
Glad that this is out of the way so that Steve and Co. can make with the new laptops next month. My 1.5 Ghz Powerbook is getting a little long in the tooth.
-- MDT
-- MDT
Labels: Apple, backdating, Steve Jobs
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Apple Off the Hook on Options
At least when it comes to the Justice Department. Allegedly aggrieved investors may have other ideas. Me personally, I'm just excited for the iPhone 2.0 upgrade available on Friday.
-- MDT
7/02/2008
-- MDT
Labels: Apple, backdating, stock options
Backdating Concerns Rise from the Ashes for Apple
We'll see if they gain any more traction via this new civil suit. The last run through saw Apple jettison its general counsel, among others.
-- MDT
1/16/2008
-- MDT
Labels: Apple, backdating, Steve Jobs, stock options
Macbook Air
Oh Yeah. That looks about right...
I'll give em a few months to work out the kinks - then I'm in.
-- MDT
1/14/2008
I'll give em a few months to work out the kinks - then I'm in.-- MDT
Labels: Apple
Ahhhh, Macworld
What garden of earthly delights will be visited on us tomorrow morning from the Macworld Expo? The Daily Caveat pines for a worthy replacement for a now aged, but well-loved, 17 inch Powerbook. It will be hard to set it aside, but it is time. That's the thing about Macs. You actually get kindof attached to the little guys...
Last time out the Macworld conference brought us the iPhone. If you haven't used one yet, I suggest you start. You can read all the naysaying reviews you want from the internet wonk contrarians. They're wrong. Unless you simply cannot be unbuckled from your Blackberry, the iPhone one year later still cannot be touched for the seamless blend of features, usability and mobile computing potential.
This year, who's to say what the Macworld keynote will bring. Many have suggested an ultralite mobile-tweaked Macbook that incorporates a touchscreen interface mimicking the iPhone's central innovation. I'll take two, thanks. Did I mention that my Powerbook is dying? But of course the fun is in the prognostication, of which you'll find plenty right here.
-- MDT
11/06/2007
Last time out the Macworld conference brought us the iPhone. If you haven't used one yet, I suggest you start. You can read all the naysaying reviews you want from the internet wonk contrarians. They're wrong. Unless you simply cannot be unbuckled from your Blackberry, the iPhone one year later still cannot be touched for the seamless blend of features, usability and mobile computing potential.
This year, who's to say what the Macworld keynote will bring. Many have suggested an ultralite mobile-tweaked Macbook that incorporates a touchscreen interface mimicking the iPhone's central innovation. I'll take two, thanks. Did I mention that my Powerbook is dying? But of course the fun is in the prognostication, of which you'll find plenty right here.
-- MDT
Labels: Apple
Apple's Former General Counsel Comes Back Swinging
Ousted and indicted former Apple General Counsel, Nancy Heinen is readying her defense against stock option backdating charges from the SEC. Apple dismissed Heinen when the SEC came calling on the company regarding questionable grants practices.
While Apple patriarch, Steve Jobs seemed to be at least momentarily in the cross-hairs (and many predicted his sort, swift downfall), it was Heinen along with a few other high level company employees who have ultimately faced repercussions.
In her defense Heinen is seeking financial records from fellow former Apple in-house attorney, Wendy Howell. Howell, also canned in the options mess, was the individual who actually wrote the questionable options grant to Steve Jobs. Howell has indicated she falsified the options grant under pressure from Heinen.
Heinen wants access to the documents to show that Howell was under considerable financial distress at the time, hoping to discredit her testimony. Howell has thusfar resisted the overtures of the Heinen defense team citing privacy concerns.
Heinen recently filed suit against her former co-worker in an effort to produce the documents. MacWorld UK has the details on the case of Heinen v. Howell.
-- MDT
9/10/2007
While Apple patriarch, Steve Jobs seemed to be at least momentarily in the cross-hairs (and many predicted his sort, swift downfall), it was Heinen along with a few other high level company employees who have ultimately faced repercussions.
In her defense Heinen is seeking financial records from fellow former Apple in-house attorney, Wendy Howell. Howell, also canned in the options mess, was the individual who actually wrote the questionable options grant to Steve Jobs. Howell has indicated she falsified the options grant under pressure from Heinen.
Heinen wants access to the documents to show that Howell was under considerable financial distress at the time, hoping to discredit her testimony. Howell has thusfar resisted the overtures of the Heinen defense team citing privacy concerns.
Heinen recently filed suit against her former co-worker in an effort to produce the documents. MacWorld UK has the details on the case of Heinen v. Howell.
-- MDT
Labels: Apple, backdating, Nancy Heinen, SEC, stock options
Judge Skeptical of Apple Backdating Suit
(In keeping with our iPhone theme...)
Justin Scheck at the LegalPad Cal Law blog has details...
-- MDT
5/04/2007
Justin Scheck at the LegalPad Cal Law blog has details...
-- MDT
Labels: Apple, backdating, Cal Law Blog, stock options
Apple Backdating Investigation Turns Toward the BOD
With Steve Jobs, at this point, apparently not facing legal action for his role in Apple's stock option backdating kerfluffle, attention has turned to the Apple board and how it conducts itself. The board features a few folks you may have heard of including former Vice President, Al Gore and Google boss, Eric Shmidt.
The San Francisco Gate has the details.
-- MDT
4/25/2007
The San Francisco Gate has the details.
-- MDT
Labels: Apple, backdating, Fred Anderson, Steve Jobs, stock options
Former Apple CFO Makes Deal, Tells Tales on Jobs
Looks like Nacy Heinen and Fred Anderson - Apple's former general counsel and CFO, respectively - are coming out swinging. So far Heinen and Anderson are the only two Apple execs to take a public fall for the company's stock option backdating, but both may still have a great deal to say about the role of Apple CEO Steve Jobs.
Official charges against Heinen are expected from the SEC as soon as this week. She has vowed to fight. Anderson, on the other hand, has cut a deal with the SEC - paying $3.5 million to settle backdating-related charges against him.
More on all the schenanigans from Palo Alto, via the FT - here and here.
-- MDT
4/23/2007
Official charges against Heinen are expected from the SEC as soon as this week. She has vowed to fight. Anderson, on the other hand, has cut a deal with the SEC - paying $3.5 million to settle backdating-related charges against him.
More on all the schenanigans from Palo Alto, via the FT - here and here.
-- MDT
Labels: Apple, backdating, corporate scandal, Fred Anderson, Nancy Heinen, SEC, stock options
Apple's Steve Jobs a Likely to Avoid Criminal Charges in Stock Options Probe
Was there ever any doubt?
Details at Tech-Blorge.
-- MDT
3/26/2007
Details at Tech-Blorge.
-- MDT
Labels: Apple, investigation, Steve Jobs, stock options
Steve Jobs - Not Out of the Woods Yet
This San Francisco Chronicle article does a good job of laying why Jobs should still be sweating (if only in private) his 2001 stock option grants. Jobs has already passed through one options investigation untouched, that of, Pixar the animation house he bought of George Lucas for a song and then turned into a creative powerhouse.
But backdating issues with Jobs's gig at Apple, Inc. still loom large. There's a lot of smoke and maybe a bit of fire too. After all it would seem fortuitous for Job's to have accepted options backdated to just four days before Apple made the announcement of its first iPod...until you recall that the iPod was widely derided as a flop-in-the-making.
The Daily Caveat thinks Jobs'll skate...but time will tell.
-- MDT
1/26/2007
But backdating issues with Jobs's gig at Apple, Inc. still loom large. There's a lot of smoke and maybe a bit of fire too. After all it would seem fortuitous for Job's to have accepted options backdated to just four days before Apple made the announcement of its first iPod...until you recall that the iPod was widely derided as a flop-in-the-making.
The Daily Caveat thinks Jobs'll skate...but time will tell.
-- MDT
Labels: Apple, backdating, Steve Jobs, stock options
Steve Jobs and Stock Options...a Turning Point?
There are certainly plenty of business medial pundits out there that have weighed in on the stock options backdating with their contention that imbroglio is much ado about nothing. And yet 160 some odd companies are either currently under or facing potential federal investigation and executives have been dropping right and left.
Heck, one guy even fled the country and initiated an international man-hunt.
One of the most prominent options inquiries has been that of Apple Computer (excuse me...Apple, Inc.) and CEO, Steve Jobs. It looked as if Jobs might skate initially because he essentially grew no benefit from the options that were awarded him. Apple's own internal investigation cried no harm no foul and it seemed that the story might just fade away into the din and roar preceding the much anticipated debut of Apple's iPhone.
But the story didn't quite die there. Just when the Apple options issue seemed to be dying down, it was brought roaring back to life by the admission that the minutes of the meeting where Jobs' stock options were granted had been falsified - that no board approval of the grant had taken place. Apple must have known that there was more to in because the quietly fired the execs involved, including long time general counsel, Nancy Heinen and Apple CFO Fred Anderson.
This prompted some to call for Steve Jobs resignation, although no one within Apple itself, notably. And that kind of standing by your man is what Peter Burrows over at BusinessWeek would like us to think of as The Steve Jobs Effect.
And he thinks its catching....
1/24/2007
Heck, one guy even fled the country and initiated an international man-hunt.
One of the most prominent options inquiries has been that of Apple Computer (excuse me...Apple, Inc.) and CEO, Steve Jobs. It looked as if Jobs might skate initially because he essentially grew no benefit from the options that were awarded him. Apple's own internal investigation cried no harm no foul and it seemed that the story might just fade away into the din and roar preceding the much anticipated debut of Apple's iPhone.
But the story didn't quite die there. Just when the Apple options issue seemed to be dying down, it was brought roaring back to life by the admission that the minutes of the meeting where Jobs' stock options were granted had been falsified - that no board approval of the grant had taken place. Apple must have known that there was more to in because the quietly fired the execs involved, including long time general counsel, Nancy Heinen and Apple CFO Fred Anderson.
This prompted some to call for Steve Jobs resignation, although no one within Apple itself, notably. And that kind of standing by your man is what Peter Burrows over at BusinessWeek would like us to think of as The Steve Jobs Effect.
And he thinks its catching....
Labels: Apple, backdating, Comverse, Fred Anderson, Kobi Alexander, Nancy Heinen, Steve Jobs, stock options
Apple Stock Option Class Action Has a Lead Plaintiff
The New York City Employees' Retirement System has the honors. And in related news, has Steve Jobs been meeting with the Feds?
-- MDT
1/17/2007
-- MDT
Labels: Apple, backdating, class action, securities, stock options
Apple Facing Federal Probe on Stock Option Backdating
I guess they're not just going to take Apple's word for it, huh?
-- MDT
1/11/2007
-- MDT
Labels: Apple, backdating, investigation, stock options
Steve Jobs: A Syllogistic Defense
Backdating: Is almost entirely a non-issue.
Steve Jobs: Is only guilty if backdating is an actual issue.
Ego: Leave Steve alone you business media ninnies!
Larry Ribstein of Ideobog lays it out it a little bit more eloquently here and here.
-- MDT
1/09/2007
Steve Jobs: Is only guilty if backdating is an actual issue.
Ego: Leave Steve alone you business media ninnies!
Larry Ribstein of Ideobog lays it out it a little bit more eloquently here and here.
-- MDT
Labels: Apple, Ideoblog, Larry Ribstein
Backdating Schmakdating! Bask in the Glory of the iPhone 1/08/2007
Why Steve Jobs Should Resign
Well, lets be clear, I don't think he should. But over at Institutional Risk Analytics they're makin' a case. Personally I can't see any way that Job's resigning from Apple hurts the company less than simply weathering the options scandal. To read the case against Steve Jobs, just click here.
-- MDT
12/27/2006
-- MDT
Labels: Apple, backdating, stock options
Apple Stock Options Investigation - It's Not Over Yet
It pains me to even think bad thoughts about the fine folks at Apple. This is a company whose products I've used since their earliest incarnations and have great affection for (my wife would say too great). I also think that Apple, by in large, acts pretty responsibly as a corporate citizen. Not saying they are perfect, but especially with Steve Jobs in the driver's seat the company expresses a vision and ethos of progress and refinement. These are things I can get behind, whether we're talking about technology or civil society. Thus it pains me to observe that Apple may be in deeper waters than it was originally thought when it comes to potential problems arising from stock option backdating.
Some prominent (and probably pre-emptory) resignations have already taken place, including that of former Apple General Counsel, Nancy Heinen and former Apple CFO Fred Anderson. Everybody across the board has lawyered up, including Apple itself. With an SEC investigation of the company still looming, this Mac addict is starting to sweat...just a little. Falsified documents will do that to ya.
Read the absolute latest from the FT.
-- MDT
12/26/2006
Some prominent (and probably pre-emptory) resignations have already taken place, including that of former Apple General Counsel, Nancy Heinen and former Apple CFO Fred Anderson. Everybody across the board has lawyered up, including Apple itself. With an SEC investigation of the company still looming, this Mac addict is starting to sweat...just a little. Falsified documents will do that to ya.
Read the absolute latest from the FT.
-- MDT
Labels: Apple, backdating, stock options
Holiday Catch-Up - What'd I Miss?
Welcome back folks. The Daily Caveat will be in mid-week and then I'll jet off again to visit the Louisiana branch of our NJ/LA martital union. I hope the holiday weekend treated everyone well. Dog boarded, cats in tow, we made our way out towards the Eastern shore and up to NJ for the weekend.
We also hit NYC for a quick brunch with friends and visited the the usual spots, including Rockefeller Center. I have to say the tree was pretty mediocre this year - it looked down right droopy. Swampy, even. Kind of Christmas on the bayou - which of course makes me feel right at home.
Now...to business..what'd we miss (I'll keep updating this over the course of the day, as time allows):
-- MDT
9/15/2006
We also hit NYC for a quick brunch with friends and visited the the usual spots, including Rockefeller Center. I have to say the tree was pretty mediocre this year - it looked down right droopy. Swampy, even. Kind of Christmas on the bayou - which of course makes me feel right at home.
Now...to business..what'd we miss (I'll keep updating this over the course of the day, as time allows):
- Former FBI directory Louis Freeh is set to lend a hand at DaimlerChrysler, running their internal investigation into the recent bribery scandal. Siemans, DaimlerChrysler...what is it with the Germans this year?
- Accusations of faked documents arise in Apple options probe. (Say it ain't so, Steve).
- Nikko dumps execs implicated in falsified earnings report. Several asset managers have also cut ties to the firm.
- Biomet facing scrutiny on options backdating.
-- MDT
Labels: Apple, bribery, DaimlerChrysler, Louis Freeh, Louisiana, Nikko Biomet
Apple Avoids SEC Investigation on Options Backdating
At least that's the tale that Steve Jobs is telling. He had this to say in an interview conducted in connection with Apple's recent Showtime event, which debuted several new products and solidified Apple's move into digital downloads of feature films, via the company's juggernaut iTunes store:
-- MDT
"We're mostly focused on our own house right now," Jobs told CNBC in an interview broadcast on Tuesday. "And we're not under investigation by the SEC or anyone else."More here.
"But we did discover -- you know with all the press around this -- we started our own investigation and we did discover some irregularities and we're letting that investigation have its due course," he said. "And it will be completed in the not too terribly distant future."
Jobs added that Apple is "not really talking about it until that investigation is done," just to give the investigators "the benefit of doing a completely independent investigation."
-- MDT
Labels: Apple
