“Steve Jobs and Apple are in trouble for backdating. Backdating is a complex financial prodecure requiring Mr. Jobs to call old girlfriends,” Chip Bok, a rather famous editorial cartoonist, blogs for Bokbuster.
Bok writes, “According to Holman Jenkins of the Wall Street Journal it is a perfectly legitimate business practice. A special 2 man committee, including Apple director and Internet inventor, Al Gore, investigated Jobs and cleared him.”
“Since executive options come out of the existing shareholders’ hide you’d think they’d be pretty steamed about the whole backdating thing. Not. Apple stock rose to record highs,” Bok.
See a larger version of the cartoon here.