Jobs Apologizes for Accounting Issues
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In a report to the US Securities and Exchange Commission regarding allegations that the company may have failed to report certain backdated options, Apple today said its CEO, Steve Jobs, knew something about his company's options backdating practices, but never benefited from backdating personally.
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Forget the apology and deal with the issues. That&#39;s the word from the ANC in response to Treatment Action Campaign leader Zackie Achmat on Monday after he and other TAC members said they
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Tony Blair yesterday offered critics of his Iraq war strategy his most contrite justification for the conflict so far but stopped short of an outright apology, removing the word &quot;sorry&quot; from the text of his speech to Labour&#39;s Brighton conference in
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(InfoWorld) - Apple Computer Inc. CEO Steve Jobs apologized to shareholders Wednesday after an internal investigation found that he had been aware of the company's practice of "backdating" employee stock options. "I apologize to Apple's shareholders and employees for these problems, which happened on my watch," Jobs said in a statement, released Wednesday. "They are completely out of character for Apple." A three-month investigation by Apple's board of directorsÂ found that the company had backdated option grants made on 15 dates between 1997 and 2002. Its findings raised "serious concerns" about the roles that two former officers had played in the matter, Apple said. Apple did not identify these former officers, but the company's chief financial officer at the time of the grants, Fred Anderson, has resigned from Apple's board of directors, saying that this is "in Apple's best interests," Apple announced Wednesday. Although investigators found no misconduct by any member of Apple's current management, Jobs was aware of "a few instances" of the practice, Apple said. Jobs did not benefit from the backdated grants and "was unaware of the accounting implications." A number of Silicon Valley companies have been embroiled in the growing controversy over the practice of backdating, or allowing employees to be granted stock options dated from an earlier time, when the trading price of these options was lower. McAfee Inc.,Â Broadcom Corp.,Â Sycamore Networks Inc.Â andÂ Rambus Inc., have been implicated in the scandal, and last June criminal charges wereÂ filed against executives from Brocade Communications Systems Inc.Â in connection with that company's stock option granting practices. Apple believes it will have to restate its past SEC filings in order to record charges for its option grants. The company is working "to ensure that this never happens again," Jobs said. Â
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Sienna Miller apologized Friday for disparaging Pittsburgh in a magazine interview, saying her remarks were taken out of context and that she found the city and residents gracious.
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Progress Software said yesterday that it would restate previous financial results because of errors in stock-based compensation.
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President Roh Moo-hyun apologized Sunday for the appointment of an education chief who stepped down after three days amid accusations of using funds improperly.
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The chief executive of Whole Foods Market Inc. apologized to shareholders on Tuesday for anonymously posting comments about his company on the Internet as the organic and natural foods grocer said the U.S. Securities and Exchange Commission had launched a probe into the matter.
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LONDON  - A Conservative lawmaker was told by his party boss Saturday to apologize for an article that criticized the people of Liverpool for their "extreme reaction" to the beheading of a local man in Iraq and described them as "wallowing in victimhood."
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Businessman apologises in new campaign row, as Brown says he is 'relaxed' over revelations
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Citigroup Inc., the world&#39;s largest bank, apologized for a series of European government bond trades last month that caused prices to fall and prompted an investigation by UK regulators.
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Failing to admit its problems in a timely manner is making the company's situation worse.
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WorldCom Inc.'s former controller  testified on Thursday that chief executive Bernard Ebbers  apologized to him just days after accountants were first  ordered to cover up $800 million in expenses.
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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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Cardinal Roger Mahony, leader of the nation's largest Roman Catholic archdiocese, apologized Sunday to the hundreds of people who will get a share of a $660 million settlement over allegations of clergy sex abuse.
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Attorney General Alberto R. Gonzales took responsibility yesterday for "mistakes" related to the firing of eight U.S. attorneys last year but rejected calls for his resignation from Democrats who accuse him of misleading Congress.
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NEW YORK -- Randy Johnson's first pitch in pinstripes was an apology.