Enderle: Options backdating imbroglio ‘doesn’t look good for Jobs, evidence looks pretty damning’

Apple Store“As a celebrity CEO, Apple’s Steve Jobs is about as iconic as the iPods and iMacs that have become part of the global lexicon. However, for the last year, he’s been under a spotlight that’s been casting some dark shadows,” Darrell Smith reports for The Sacramento Bee.

Smith reports, “[Last] week, he got a bit of a reprieve when the SEC closed its civil investigation into the company’s stock options backdating troubles, filing lawsuits against two Apple officials, but not Jobs himself. The Securities and Exchange Commission even praised the Cupertino-based tech giant, calling Apple’s cooperation with the investigation ‘swift, extensive and extraordinary.'”

“However, the cloud over Jobs, who 30 years ago cofounded the company that gave the world Macintosh, iMac and the iPod, hasn’t lifted entirely,” Smith reports.

Smith reports, “There’s still a federal investigation and shareholder lawsuits against the company that could lead to Jobs’ stepping down or even his ouster.

“‘It doesn’t look good for Steve, no matter how you look at it. There’s a reasonable chance that he will get charged. The evidence looks pretty damning,’ said Rob Enderle, founder and principal analyst at San Jose-based Enderle Group, which analyzes the tech industry,” Smith reports.

“Not everyone feels so strongly that Jobs’ future is in doubt. “The case is either weak or the stakes are too low. It seems like there is a strong indication that not much is going to come of (the investigations),” said Christopher Null, a San Francisco-based analyst at Yahoo Tech,” Smith reports.

Smith asks, “However, if the Apple cart were upset, could the company survive without the jeans-wearing Jobs, the company’s public face and spiritual leader?”

Full article here.
When will reporters figure out that calling quote whore Rob Enderle for their articles makes them look as idiotic as Enderle himself? The good news is that if Enderle thinks Jobs is in trouble, then Jobs is almost certainly in the clear.

49 Comments

  1. Shareholders forcing out Jobs? I don’t see this happening.

    I give him 100% credit for moving Apple’s stock from around $3.00/share when they purchased NeXT to whatever it is today (I think around $100.00/share and this is after it split 2 or 3 times).

    Go ahead, force him out. Then watch your stock stagnate or drop.

  2. (Isn’t this where…)

    In other news, Ballmer thinks the iPhone will not be a huge hit.

    Why is it news that Apple is always given no credit. Sure it’s great to iCal these things and go back and laugh, but why so much mind-space for this drivel? If you want to make us out to be zealots, you’re doing a good job.

    (Am I a zealot by posting this? Hmmmm…)

    (…we cam in?)

  3. Uhm, what “evidence” is Enderle talking about? If he read the SEC complaint against Heinen and Anderson, I didn’t see any documentable “evidence” against Steve, otherwise, he would have been charged along with those two.

  4. This was a reply from a reporter named Jessica Guynn, a so-called reporter for the SF Chronicle when I asked her why they quoted a bozo like Enderle. “He’s a longtime analyst who is enough of a generalist that he can speak to a number of companies in different areas. Reporters often turn to him when they cannot find an analyst covering a particular company or trend. Hope that helps!”
    He is enough of a generalist to be generally wrong!

  5. What “evidence” has Enderle been given access? Who else has access to this “evidence”? How much of the evidence of Apple’s blundering is confidential and privileged, and how much is publicly available? How many of these pseudo-techno-wizards like Enderle have any substantial understanding of SEC rules and regulations?

  6. “‘It doesn’t look good for Steve, no matter how you look at it.

    Well we all know how he ‘looks’ at it. Clearly Enderle needs an oculorectomy….where they cut the nerve connecting his eyeball to his asshole. It will improve his shitty outlook on life.

    MW..analysis….I’m not kidding

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