Thursday, December 28, 2006

No Wonder that Mac Guy's So Happy

Report: Apple executives faked stock-option documents | CNET

Apple Computer's stock took a hit early Wednesday after a report that company executives had made up details on stock-option administration documents to guarantee profits for certain executives.

Shares of Apple stock were down $3.55, or 4.36 percent, to $77.96 in early morning trading on the Nasdaq stock market following the report on Apple is one of many companies--including CNET Networks, publisher of CNET in government investigations into the practice of stock-option backdating, in which companies would assign favorable grant dates to stock options in order to ensure hefty profits for executives.

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