“Steve Jobs is not only likely to suffer little pain from Apple Computer Inc.’s options backdating investigation, but without a doubt will remain as the company’s chief executive, according to Piper Jaffray analyst Gene Munster,” Rex Crum reports for MarketWatch.
“In a research note released Wednesday, Munster said that he believes Jobs is in the clear regarding the backdating of options at Apple because the company’s internal investigation revealed no misconduct on the part of any current members of Apple’s management team,” Crum reports.
Full article here.
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They need to keep their noses clean and just keep doing what they do best.
So much for the headline seeking speculators of the press.
Don’t get me wrong. I love Steve as much as the next guy/gal. But this is just a report from their internal investigators. We still have to see if the SEC wants a probe of their own. The dust hasn’t exactly settled yet. Also, don’t forget the shareholder lawsuits.
Word on the street:
“I didn’t do it. Nobody saw me do it. You can’t prove a thing.”
– Bart Simpson
This guy is SO guilty he makes O.J. look like a victim.
. . .
Oh, sorry . . . I thought we were talking about Gates and his predatory business practices. If he can’t be taken down, there’s no way the SEC or anyone else should be able to touch Apple.
Munster is way too confident that SJ is in the clear. An internal investigation clearing a company’s current CEO is not that surprising. While I too would bet on Jobs surviving (I certainly hope so!), it is far from a sure thing. Keep in mind that Jobs admitted he was aware of the backdating, he just pled ignorance of the accounting implications.
If that SOB Spitzer were at the SEC right now, you can be sure that Steve’s innocence or guilt would be irrelevant, not when compared to the media attention he could obtain by prosecuting Steve Jobs. These days, an indictment or even just a “criminal investigation” is usually enough to knock off a CEO and maul a company; a later conviction, or lack thereof, is not so important.
The “internal” investigation was carried out by a 3rd party by the way. And, auditors don’t keep their jobs by letting people get away with things, if they did do that, the SEC would be after them as well.
This is a non-story…move on people. Jobs isn’t going anywhere anytime soon…
Screw that guy, he can’t get away with that, this is outrageous, he’s totally screwed over the company stockholders and brought shame on the brand, it’s a freak’n outrage….. huh? It’s not about Balmer? oh, sorry, never mind
I don’t care – and most stockholders don’t care whether SJ actually made a “mistake” in this or anything else. When people buy Apple stock these days, they are more realistically buying stock in Steve Jobs. Apple stock prices would crash and there would be great uncertainty as to Apple’s future should SJ resign, That would hurt everyone over something that many people feel isn’t comparatively a big deal. SJ isn’t going anywhere. Those who think he should, should also provide their recipe for continued success at Apple after he went. I’m not sure such a recipe exists, with certainty, at the moment.
He stays.