CEO apologizes for Apple stock practices
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Apple Computer Inc. CEO Steve Jobs apologized Wednesday for the company's past stock-option practices after a three-month internal investigation raised concerns over how some grants were handled between 1997 and 2002.
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Current management get clean bill of health The fall-out over the All-American Stock Options Scam continues, with Apple's former chief financial officer, Fred Anderson, resigning today from the board.â¦
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Nice comps report. Too bad about the CEO.
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Updated: The company says someone &quot;has recently misappropriated and disseminated through Web sites confidential information about an unreleased Apple product.
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Apple Computer Inc. said on Wednesday an internal investigation found irregularities with its past stock option grants, prompting the immediate resignation of a former chief financial officer from the board of directors.
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Apple Inc , faced with an  outcry from iPhone customers who bought the device before a  sharp price cut, will offer them a $100 store credit, Chief  Executive Steve Jobs said on Thursday.
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(InfoWorld) - New allegations have surfaced that Apple Inc. CEO Steve Jobs was involved in backdating stock-option grants improperly while chairman of the animated movie studio Pixar Inc. The Wall Street Journal reported Friday that Jobs approved a March 2001 employment contract with "Toy Story" director John Lasseter that granted Lasseter Pixar stock options priced in December 2000, three months before the contract was signed and when the stock price was at its lowest level of the year. Although the Journal reports it is not clear whether Jobs picked the December stock options pricing date, his signature, on behalf of Pixar, is on Lasseter's contract. Stock-options backdating is not illegal, per se, but there are U.S. Securities and Exchange Commission (SEC) regulations on how they must be accounted for and disclosed to shareholders. Pixar Inc. has since been acquired by The Walt Disney Co., Jobs now sits on Disney's board and is its largest individual shareholder. Disney said it is conducting its own investigation of Pixar stock-options practices. The U.S. Attorney's Office in San Francisco and the SEC have been investigating stock-options backdating actions at Apple and other companies. Calls to the U.S. Attorney's Office, Apple and Disney were not immediately returned.
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Apple Computer Inc.'s  board cleared Chief Executive Steve Jobs this week of any misconduct over stock options accounting problems and Wall Street cheered him for taking broad responsibility.
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UPDATED - The assassination of Pakistan's leading challenger to the prime minister's post may be to blame for a late afternoon plummet in Apple's stock value, along with the rest of the tech sector.
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Apple Inc. CEO Steve Jobs apologized and offered $100 credits Thursday to customers who shelled out $599 for the most advanced model of the iPhone this summer, only to have the company unexpectedly slash the price $200 in a push to boost holiday sales.
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Apple Computer Inc.  said on  Wednesday it found irregularities with its past stock option  grants during an internal investigation and the company will  likely need to restate its past financial statements.
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Fred Anderson, who served as Apple's chief financial officer from 1996 to 2004, leaves the company's board of directors after an internal investigation reveals details of stock-manipulation tactics that maximized execs' profits. In Cult of Mac.
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(InfoWorld) - Apple CEO Steve Jobs Thursday afternoon responded to a flood of complaints from existing iPhone owners over Wednesday's $200 price cut by promising the company would issue a $100 credit to anyone who bought an iPhone before the change. "I have received hundreds of emails from iPhone customers who are upset about Apple dropping the price of iPhone by $200 two months after it went on sale," Jobs said in a statement posted to the Apple Web site. In the open letter addressed to "all iPhone customers," Jobs defended the price cut, saying "now is the right time to do it. iPhone is a breakthrough product, and we have the chance to 'go for it' this holiday season." He also echoed -- albeit in more circumspect language -- comments made Wednesday in an interview with reporters from USA Today in which he told disgruntled owners "that's what happens in technology." "There is always someone who bought a product before a particular cutoff date and misses the new price or the new operating system or the new whatever," Jobs said Thursday. "This is life in the technology lane." But he tacitly acknowledged that Apple had stumbled. "We need to do a better job taking care of our early iPhone customers as we aggressively go after new ones with a lower price," Jobs said in the letter. "Our early customers trusted us, and we must live up to that trust with our actions in moments like these." All current iPhone owners with the exception of those eligible for other rebates -- people who purchased an iPhone in the last 14 days, for example, can return it for a refund, minus a 10 percent restocking fee -- will be issued a $100 credit good either at Apple's own retail stores or its online shop, said Jobs. Details were not available, but he promised they would be posted to the Apple site next week. "We want to do the right thing for our valued iPhone customers," he concluded. "We apologize for disappointing some of you, and we are doing our best to live up to your high expectations of Apple." Apple's change of heart was in reaction to the overwhelmingly negative comments that iPhone owners posted to the company's own message forums -- and forums at other Web sites --Â  starting just minutes after the price change announcement Wednesday.
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Apple Computer Inc. shares fell Friday after Needham &amp; Co. downgraded the stock to "hold" from "buy."
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After announcing record-breaking revenues and profits in its most recently concluded quarter, Apple saw its stock slide precipitously in trading today. Investors were spooked by smaller than expected forecasts, although analysts say the company's fundamentals are still sound.
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Apple Inc  Chief Executive  Steve Jobs was asked by U.S. securities regulators to give a  deposition in a lawsuit against the company's former general  counsel involving stock options backdating, Bloomberg reported,  citing two people familiar with the matter.
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Apple Computer Inc.  said on Wednesday an internal investigation found irregularities with its past stock option grants, prompting the immediate resignation of a former chief financial officer from the board of directors.