What's a Realistic Retirement Age?
Farmers Hit the Jackpot in Kansas Oil BoomInvestors wonder whether Apple Computer may have backdated option grants, or reset the grant date (and therefore, strike price) to make them more attractive for the recipients, as the company announced today just after the bell that it found "irregularities" in certain option grants several years ago.
One of the irregular grants was made to Steve Jobs, sometime between 1997 and 2001, although Apple says that it was cancelled quickly and the company's CEO made no financial gain as a result.
While it's certainly commendable that Apple is being proactive about the announcement, I can only wonder whether some other employees did record a significant gain in those boom years of 1999 and 2000 -- when this sort of crooked practice was whispered to be quite common.
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