Backdating scandal

Because of how widespread the behavior was, it never presented a realistic possibility that Jobs would lose his, err, job as part of the scandal.

Stock options allow holders to buy shares at a later date, usually at the trading price on the day they were granted.

Specifically, we discuss the decision models for executives engaged in backdating and the potential role of social networks among directors, selection considerations, institutional voting behavior, and how backdated options can be replicated with existing equity instruments.

We would like to acknowledge the excellent research assistance from Ian Gow and Charles Wang in preparing this discussion.

Sun cuts ahead: So, just how many jobs will Sun cut this time?

That’s the burning question as Sun Microsystems, the Santa Clara maker of servers and storage gear, said in a filing today that it will spend up to 0 million the rest of this year to pay for staff cuts and to maintain profits. First, it quoted a research note from UBS analyst Benjamin Reitzes that Sun could cut as many as 1,000 jobs.

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The news, centered on the dubious awarding of stock options to Steve Jobs, prompts Apple share prices to fall.

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