Look mom, no hands - option backdating

The defense of Steve Jobs in the option backdating at Apple and Pixar appears to be buttressed on evidence that Mr. Jobs was not caught with his hands in the backdated options cookie jar - although Mr. Jobs reportedly knew about the jar and perhaps even opened it so that others could reach inside.

At Rambus Inc., former CEO Geoff Tate and reported sole member of the options awarding committee, has thus far taken the heat for Rambus' backdating fiasco by either falling on the sword of his own accord or perhaps he was pushed.

I admit, a part of me admires a man who takes one for the team . . .

Read about Mr. Jobs at News.com.com.

Rotting Apple?

Apple's business is booming. Christmas celebrators overwhelmed iTunes, causing delays for some of more than 20 minutes to download a single song. Unfortunately for Apple, this success is not likely to distract the SEC and its investigation into Apple's stock option backdating practices. Apple, is in a barrel with more than 160 other companies with backdating issues pending.

According to Financial Times, Apple Computer give Mr. Jobs 7.5 million unauthorized stock options and then later falsified records to make it appear that the board voted their approval. Mr. Jobs did not exercise the options and returned them to Apple, which then gave Mr. Jobs restricted stock.

Read more here at EETimes or Cnet News.