Wednesday, April 25th, 2007
Once upon a time, in a political climate that was far simpler than that of the 21st century, President Harry Truman reportedly took responsibility for his actions with the phrase, “the buck stops here.”
These days, the blame for a serious transgression of one sort or another is usually deflected to a subordinate who is forced to take the blame for the boss. Does that same philosophy exist over at Apple, Inc.?
Well, consider that the SEC has gone after for Apple CFO Fred Anderson for his part in that stock options scandal that has caused the company to restate its earnings for a period of several years. Former head legal counsel Nancy Heinen, who is facing civil fraud charges in connection with these episodes, is apparently hanging tough, so her case is not apt to be resolved so quickly.
Now it’s not that Anderson and Heinen face jail time for their crimes. They left Apple as millionaires, and facing fines to settle their scores with the authorities will have, at best, a minor impact on their bank accounts. That assumes, of course, that Heinen eventually reaches some sort of settlement, which isn’t certain right now.
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