Options update: Former Apple CFO throws Steve Jobs under the bus

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Don't get it

I don't get what the big deal is. You know that backdating itself isn't illegal, right? So Fred Anderson asked the person who's job it WASN'T to make sure reporting requirements are met (or to even know what they are) if the requirements for the approval date were met, and that person said, 'Yes it was approved. The board will confirm it.' That's a rather large grey area for the definition of 'approved' for someone who's not an accountant. It's easy to conceive of a situation where Jobs considered the grant approved due to assurance from the board despite not technically meeting this definition in the accounting sense. And BTW, DID the board confirm it? Did Anderson even check? It's not like Steve Jobs said to him, "Take my word for it and don't do your job." He basically referred Anderson to the board. So what did the board say, and on whose advice? Anderson conveniently doesn't include that information in his targetted shove from the sidewalk.

Posted by: Technicolour Squirrel   Posted on: 04/24/07 You are currently: a Guest | Members login | Terms of Use

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