Back at home after a long series of conferences and some time away from Internet access.
Nancy Heinen settled the SEC’s stock option backdating allegations, bringing to a close Apple’s entire backdating kerfuffle.
Veteran Apple watcher Peter Burrows had the best explanation of both Heinen’s decision and the overall allegations against Apple.
It was disappointing to see Heinen issue a PC polemic upon the settlement:
With this lawsuit behind me, I look forward to addressing the greater challenges of social justice and economic justice.The first problem with such drek is that it implies that satisfying customers, creating economic growth and providing high returns to investors are not worthwhile societal goals. Yes we’d expect such malarky from a lawyer-politician but not a former exec of two Silicon Valley companies (NeXT and Apple Computer).
Second, from what I’ve seen, tainted (or disgraced) business execs who start spinning their humanitarian goals are a) guilty as sin b) not going to do anything economically useful society ever again. Michael Milken and Bill Gates come to mind.