Jobs in the clear? SEC most likely not to file suit against Steve Jobs

As an update to the SEC’s investigation of Apple and Steve Jobs regarding stock options backdating, it appears, Steve may be in the clear. Not only did the internal audits conducted by the SEC prove to be ok, Steve has made a clear case that as CEO he may not have known about the legal subtext of backdating that may have been carried out by his second-in-command employees. The SEC sued both Apple’s Chief Financial Officer Fred Thompson and ex-General Counsel Nancy Heinen last year for apparent backdating-related fraud, leaving Jobs, at this point, out of focus.

While Steve may be in the clear with the internal audits conducted, that does not necessarily mean that the SEC does not have a case. The SEC only has to prove that the executive, in this case Steve Jobs, knew the alleged backdating was occurring and therefore disregarding the accounting rules put in place by the SEC to regulate such behavior. If the SEC feels they would have evidentiary support to make this case, they can proceed with action.

The interesting part is that the government may in fact do nothing even if some evidence is found. A few high profile attorneys commented on the case, including Anthony Sabino, who is a white collar defender and professor at St. John’s University in New York, stating that because of Steve Jobs “immensely well-known and well-respected” status in the business world, the government may not want to press the matter any further.

While it is still pending whether action will be taken against Steve or not, I’d have to agree with Mr. Sabino’s sentiments on the matter that could be facing the bar. Especially in a high profile case, where a jury will serve, the jury represents the American public’s opinion and that may leave for a very one-sided jury, no matter what the selection process.

This blog is based an article found at reuters.com regarding the SEC options suit

http://www.reuters.com/article/PBLSHG/idUSN0736611420080530?pageNumber=4&virtualBrandChannel=10112

Live WWDC Video Coverage

Just a quick note to announce we will be doing live coverage of all the WWDC Keynote announcements, beginning one hour before the scheduled start of the keynote. Our stream will be capped to ensure everyone viewing has a smooth viewing experience. So mark those iCals, and join us Monday, June 9th at noon ET / 9AM PT for all the breaking news and commentary on the latest from Apple.

iPod Recycling - good for mother earth, good for your wallet

This weekend I had the pleasure of visiting my local Apple store. Well, pleasure may be too strong of a word- if at all possible, one should avoid visiting the Apple store on a weekend, ever. (Especially a holiday weekend!) That said, here's a rundown of my exchange experience.

Being both a tree-hugger and a technophile, I was very happy to learn about Apple's iPod recycling policy. When it came time for my old Nano to visit the big Apple logo in the sky, I was happy to hand him over to a nice customer service representative (I'd like to give resound high marks to Kenny, the associate who helped me. He was polite, friendly and apologized for the ridiculous wait I had to endure...why did they remove all but one cash rap? I feel like I'm always standing over there, with some weird request that the Windows-toting hand held machines the staff all carry can't handle. Bring back the registers please, Steve!)
I was even happier to get 10% off my purchase of a new Nano, after filling out a simple form with my name and contact information. The associate then took my old iPod and wrote in the serial number on the form. A swipe of my credit card later, and Kenny was emailing me my receipt (yay less paper refuse!), while giving me the option for a printed receipt if I'd prefer. I can understand why you may want a paper receipt when making a major computer purchase, but I was more than happy to forgo the wasted pulp for a Nano purchase. The receipt showed both a scan of the recycle option (rings up as a penny) and the 10% discount on my 199.00 new iPod.

A look at the iPod vending machines

For those of you who haven't been in a Macy's recently, here's a look at their iPod vending machines. Looking like a two-door convenience store freezer, the machines stock several flavors of iPods, as well as a few digital cameras, and iPod accessories.

I questioned why the store would bother with the vending machines. Is it simply a marketing gimmick? The uniqueness of buying a multi-hundred dollar item out of a vending machine, or is there some method to the madness? As Adam pointed out in a recent episode of TDL Live there could be some sound loss prevention (theft) reasons for putting the devices in the vending machine. Given the other pricey items available though, I don't know. It would be one thing in a drug store, or 7-Eleven, where the iPods might be the priciest items, I'm not so sure about Macy's. Then again, the item s probably a fairly expensive item in terms of its size vs. value. Adam also pointed out the vending machine concept allows them to place the items in traditionally high theft portions of the store without concern. Either way, head down to the local Macy's and check it out.

TDL Live This week: (5/26) Apple News Roundup

If you missed it live, here's our weekly video show rounding up the latest Apple news and rumors...