Depending on What "is" Means

It is becoming clear that Apple CEO Steve Jobs received millions of dollars of backdated stock options and that Jobs also received a grant that was not approved by the board of directors. In relation to that grant some of the paperwork my have been falsified to give the impression that the grant was approved.

In layman's terms: Jobs got caught stealing from Apple shareholders.

To investigate Apple has created a special committee, chaired by Al Gore who we all know is well qualified to investigate ethical lapses committed by his superiors.

"The special committee, its independent counsel and forensic accountants have performed an exhaustive investigation of Apple's stock option granting practices," in a joint statement said Al Gore, chair of the special committee, and Jerome York, chair of Apple's Audit and Finance Committee.

"The board of directors is confident that the Company has corrected the problems that led to the restatement, and it has complete confidence in Steve Jobs and the senior management team."

Timothy Burger
timothyb(at)timothyburger.com