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01-21-2009, 10:47 AM #1Apple Faces SEC Review over Disclosure of Jobs Health
So if the poor guy were not already dealing with enough: Apple is now going to have to undergo a review by the Securities Exchange Commission because speculators say the company hid reports about the actual state of CEO Steve Jobs health to mislead investors.
Speculators say that investors had been pressing for news on Jobs health since this past June when he appeared noticeably thinner and sickly at an Apple event.
Shares of Apple stock rose by 4.2 percent when Jobs reported that his medical condition was simply a "hormone imbalance." However, when Jobs revealed he would be on medical leave through June because of his health Apple stock dropped by 8.2 percent.
The Bloomberg reports that:
"Corporate governance experts say shareholder interest in Jobs is unusually high because he is considered synonymous with Apple. He returned as CEO in 1997, turning the once-unprofitable maker of Macintosh computers into a successful consumer- electronics company with the iPod media player and iPhone. Jobs established himself as the face of Apple, serving as the main pitchman at every major product announcement over the past decade while yielding little time to other top executives."
Bloomberg also tried to interview Jobs about the SEC Review and he responded:
“Why don’t you guys leave me alone -- why is this important?”
The Securities and Exchange Commission’s review doesn’t mean speculators have witnessed wrongdoing; rather it's just to look further into the circumstantial evidence.
Sheesh, this all surely sucks for Steve – accused of lying about his health to get ahead? Who knows it could be true, but I think it's unlikely and at this point they should just lay off let him try and fight through what everyone is assuming is his cancer.
Source: Bloomberg.com: News
Last edited by AppleChic; 01-21-2009 at 12:21 PM.AppleChic
01-21-2009, 11:21 AM #2
while im not sure about the whole SEC thing....apple may have been less than forthcoming....but my opinion doesn't matter on that....i'm replying to this because i think you need to edit it applechic.....nothing has been reported about steve jobs' cancer returning. his statement said his problems were "more complicated' than he had thought. nothing has been confirmed about exactly what is wrong so its wrong to print that its cancer without that confirmation......yall don't want the same heat bloomberg got when they printed jobs' obituary do you? hehe
01-21-2009, 11:48 AM #3
01-21-2009, 12:44 PM #4
haha nice edit.....you didn't happen to buy puts in apple stock(sell it short) did you applechic. even your source makes no mention of cancer beyond what he had five years ago
01-21-2009, 02:40 PM #5
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01-21-2009, 07:19 PM #6
ANYWAYS, about the man of apple, they should really lay off, with the surgery he had for his cancer they gave him ten years, he is coming up on that. Its obvious, he either believes he can fight it and thinks he will make it back to being able to perform his duties as CEO or he is lying.
pancreatic cancer in most cases is untreatable, jobs had a RARE treatable form of it(was noticed early on). Most people who had this surgery live for another 5-10 years give or take a few. His cancer is not returning, he is probably seeing the effects of the surgery. There is some 40% survival rate when it is caught early and removed before it spreads to the lymph nodes, Jobs let it go for 9 months after it was discovered!
Simple fact is, the man is dying.
01-21-2009, 10:22 PM #7
01-22-2009, 04:23 AM #8
01-22-2009, 12:14 PM #9
In all honesty I think this is exactly what Apple needs right now, a fresh face for the company. Face it Jobs is just a marketer, he really isn't that tech savvy, he's just a friendly face Apple uses to see there overpriced hardware. I hope he's forced to retire and then Apple in the midst of confusion about what to do swallows there pride and calls back Wozniak. I'd love to see Woz take over again, he'd put the company in the right direction once more, I.E. selling OSX stand alone so you can install it on any machine, or with any luck just make it open source.
01-23-2009, 10:59 AM #10
Poor?!? Steve Jobs is a lot of things but POOR isn't one of them. Not even close. Give me his money and the SEC do whatever it likes to me.