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"…lawyer who teaches at Wayne State University Law School in Detroit."

Didn't have to dig for that quote eh?

Jul 08, 09 - 11:51 am Comment from: MacTony

SEC........... LOL!!! Maybe they should be more concerned with catching all of those Ponzi Schemes. Madoff squandered billions of dollars under their watchful eyes. They should clean up their own house.

Jul 08, 09 - 11:53 am Comment from: HMCIV

It took THREE people to write this? Wow. The wow really starts now.

Thank you MDN.
I noticed this piece on Google news yesterday and didn't want to donate them my click. I don't, whenever I notice Enderle and Guglielmo. But Enderle has been clever lately and hide his name until you fall for his bait.

Reading their craps on MDN is so much easier, without offering them the ad-sense clicks. MDN here doing the community a good service.

I suppose they are trying to argue that investors lost their hard earned cash on APPL stocks?
Where were they when the rest of the entire stock market was collapsing around everyone with one exception....APPL whose stocks did drop but not by far and rallied far faster than the market and in fact could be argued kept the market from portraying a 100% failure.
In fact APPL did so well without Mr. Jobs that if anything, they should investigate how this was achieved in order to deliver a lesson to rest of the stock market on not just how to maintain probity but to create a chain of command so that there is always someone who can take charge if the CEO for whatever reason is not able to take charge of day to day business.

Jul 08, 09 - 12:23 pm Comment from: mike_in_helsinki

SEC (pancreas chasers) and Treasury (iPhone/AT&T;chasers) are absolute incompetent asshats of the first water.

Every time something like this would come along, lefties immediately blamed Bush and started in.

Well, screw em. This has that stupid asshat Obama's name all over it.

Jul 08, 09 - 12:25 pm Comment from: DLMeyer

Let's not focus TOO hard on their disastrous failures over the past year, or the fact that actual investors (as opposed to day traders and swindlers) lost less with AAPL than with the market in general ... this is a question about "was the obvious misinformation intentional, or not".
Jobs, hopeless optimist that he is, was unrealistic in telling the company his true situation. And when he updated them. But, when he took time off, he exited the picture. He was, regardless of his health situation, out of the picture. Not beholding to the SEC. IMHO!

Jul 08, 09 - 12:33 pm Comment from: DLMeyer

mike_i_h, while I agree with you regarding the competence of the two organizations you belittle, I feel obliged to chide you over your attribution. First, the vast majority of these people were hired during, or prior to, the previous administration rather than in the past six months. They need to protect their turf. The more it is seen that they missed The Big One(s?), the more they feel the need to be seen as "on the ball" about something. Second, it was rude of you to try to make this about politics at the top. This sort of thing is about underlings trying to Not Get Fired rather than about Orders From Above.

Jul 08, 09 - 12:41 pm Comment from: Demon

The SEC time would be better spent investigating how Hedge and Retirement Funds collude with Analyst, Rumor and Media persons to manipulate stocks and the Markets in their favor so that they can meet short term cash needs with a minimal to no impact to the funds assists. If the SEC what's to protect investors that is what they should be investigating.

Hey SEC listen up!: Spend our money and your time to protect investors in a meaningful way and stop listening to unhappy media types that want to dig up information on Steve Jobs. It's not the SEC business to investigate Jobs' health issue past or present. Because Steve Jobs Health is not material to AAPLs performance.

Jul 08, 09 - 12:48 pm Comment from: MrMcLargeHuge

The Jungle Book!

Nice...

Jul 08, 09 - 01:08 pm Comment from: Deus Ex Technica

'If it’s an outright lie and he had a diagnosis before that first disclosure that, 'You’re going to need a liver transplant,' then there’s an issue. But I doubt the company out and out lied.'"

This is BS. If a CEO gets a diagnosis of a failing liver and is told he needs a transplant, he doesn't need to tell the investors SQUAT until he makes a decision that impacts the investors. If he took a couple of weeks to decide whether he wanted to go through with a liver transplant, he didn't owe anyone anything.

I'm getting pretty sick of the constant colonoscopy that the government is administering the private sector.

It's also a questions of whether Steve told Apple what his full health condition was, if even he or his doctors knew the full extent. Many specialists only look at what they are trained to do; they often don't see or request tests for other potential problems, particularly if they're trying to figure out what the main cause of concern is.

Even if Steve knew he needed a liver transplant, he may not have told Apple. Steve is notoriously private about his personal life, and he may have simply told Apple he needed to take a medical leave to get his health in order. Who at Apple is going to challenge that?

The question must be asked;

Did Steve Jobs properly perform an open tendering process, accepting bids from all potential suppliers, and choosing the bidder with the most meritorious liver, and not the liver that was pre-selected to the exclusion of any other potential bidders?

SEC: "We need to get to the meat of this matter."


(Cross the line?)

Jul 08, 09 - 03:14 pm Comment from: clinicaltechmaster

The SEC needs to go after the other people like Madoff and hedge funds, and other major crooks in the financial system.

Who is guiding the SEC , Microsoft people?

They need to leave Steve Jobs and Apple alone.

Jul 08, 09 - 03:31 pm Comment from: s

HMCIV wrote: "It took THREE people to write this?"

I guess you haven't used MS Word for Windows recently.... Don't forget the by line does not list the names of IT staff who kept the MS Word for Windows running, while the authors and editors wrote the article.