Silence is Not Golden -- Steve Jobs' Quiet Over Options Backdating at Apple, Pixar is Disconcerting

Excerpt from our One Page Annotated Wall Street Journal Summary (receive it by email every morning by signing up here):

LONG & SHORT: Steve Jobs Should Address Options Scandals

• Summary: Steve Jobs has had an illustrious career at the helm of Apple (AAPL) and Pixar Animation Studios, which he ran until the company was sold to Disney (DIS) earlier this year. But now both companies have come under fire as part of the options backdating scandal sweeping Wall Street. And while it is currently unclear whether Jobs was involved directly or even indirectly in backdating at either of the companies he ran, his lack of frank discussion on his possible role in the scandal is disconcerting. While it would be preliminary for Apple's board to fire Jobs or for the companies Commander-in-Chief to resign - "that would be overly punitive, a cure worse than the original wrongdoing - Jobs should frankly and openly discuss the scandal if for no other reason than to assuage the legitimate fears of investors.
• Comment on related stocks/ETFs: For more perspective on Apple's ongoing options backdating issues, read Carl Howe's piece from August as well as Jack Ciesielski's from July 4. For more on the options backdating scandal, check out the WSJ's Options Scandal Scorecard.

Comments

[Julian Ivan...:]

How do you expect SJ to comment on this matter until the external, independent investigation has been concluded? He can't pre-empt the report for crying out loud! Don't be so absurdly naiive. I can't even believe you suggested he should "frankly and openly discuss the scandal if for no other reason than to assuage the legitimate fears of investors," before the investigation is over.
Get real, or get a job that doesn't involve writing about matters you seem not to comprehend.

2006 Sep 06 08:32 AM