Alan Murray in the Wall Street Journal (paid subscriber link) has some harsh words for Steve Jobs (“arrogant”, “draconian”) and is rightly dubious of Apple’s protestations of his ignorance in the stock options scandal (the Macalope has held off on using that word, but we can rightly call it a scandal now).
But his conclusion is spot on:
If Mr. Jobs participated in backdating options, he should be punished. To let him off the hook would send a terrible signal that some people are exempt from the rules or above the law.
But any punishment that hampers his ability to continue running the company would be a mistake. That is punishing the victim, and only compounds the crime.
Sing it, sister.
If you read the analysis that’s floating around, it’s generally the mass-market publications that are breathlessly asking “WILL JOBS SURVIVE?!” From what the Macalope’s seen, the Wall Street analysts — the guys who actually have some skin in the game — are long on Jobs.
From Murray’s lips to the SEC’s ears.
The Macalope owns an inconsequential number of Apple shares.