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SEC Examining Apple on Steve Jobs' Health Disclosures

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chasmm
01/21/09

In reply to SEC Examining Apple on Steve Jobs' Health Disclosures
Can you imagine the outcry if the name was Bill Gates instead of Steve Jobs, and the company was Microsoft instead of Apple?
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yoshi
01/21/09

@chasmm:

No. :)
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yoshi
01/21/09

In reply to SEC Examining Apple on Steve Jobs' Health Disclosures
You know what they say...

If it doesn't make money, it doesn't make cents.

Leave the poor guy alone. You can wait until he's better. Geezmodo!
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ShadowBottle
01/21/09

In reply to SEC Examining Apple on Steve Jobs' Health Disclosures
Wow. Can you spell Hearstian? "like Madoff's alleged $50 billion fraud." <-- That's great comparison to Jobs having cancer :rolleyes: (lost any kind of sympathy right there). Also could you please quote where Jobs says his condition is "worse"? I think you'll find that he actually said that it was more "complicated" - despite the fact that he may (or may not) actually need a liver transplant - of which there is /no/ actual, hard evidence of, it's still bad reporting and bad fact checking. There's a difference between spinning and just being factually incorrect in a malicious manner. I think you're overreacting to being called out. A good reporter keeps a level head. You could have avoided these pitfalls if you'd only stopped to think first.
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Jesus Diaz
01/21/09

@ShadowBottle: Take a R&C course, come back, comment.
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frigg
01/21/09

In reply to SEC Examining Apple on Steve Jobs' Health Disclosures
It seems like a suit like this was inevitable, but I think it's doomed to fail because ultimately Steve Jobs will be given wiggle room in the timing of his own understanding of his condition, whether he misrepresented it or not.

In other words, even assuming Steve is guilty of everything they say he is, unless they can show he intentionally described something like metastasis as a hormone imbalance, it will be virtually impossible for them to prove their case.
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kernel panic
01/21/09

In reply to SEC Examining Apple on Steve Jobs' Health Disclosures
I don't understand the legal grounds. Are there not legal protections for individual medical privacy?
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frigg
01/21/09

@kurupt: I'm no lawyer, but I think since there are competing legal interests, medical privacy vs. corporate disclosure, the reality is it's a gray area, and different experts will argue from different points of view.

However, I would guess that while there may be enough of a corporate disclosure issue to bring a suit, given his medical privacy and, to the extent that his doctors testify they will inevitably support his account (even if it's something along the lines of "we tried to convince Steve of the magnitude of the problem, but he dismissed our concern") it would be very hard to prove he intentionally mislead investors about his health. Even if he did.
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howman
01/21/09

In reply to SEC Examining Apple on Steve Jobs' Health Disclosures
Don't they have something better to do than mess with a company that didn't help with the financial crisis. I'm all for some regulation, but this is a bit of a fist pumping session to detract from the fact that theses SEC guys, and gals, didn't do anything to protect the consumer, investors or the economy from companies involved in the meltdown. Now they are going after a working company with a sick guy at the helm... why don't they just beat on Timmy's legs with a 2X4 while knocking down his community run lemon aid stand?
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Monty
01/21/09

@howman: I agree to the extent that health related issues are nearly impossible to investigate. While it is interesting that the SEC is going to take a crack at it, HIPAA and other regulations are going to make it nearly impossible to get anywhere.

That said, if Apple did stretch the truth or re-arrange the facts, it should be investigated whether we think this is an important issue or not. If true, it is still stock manipulation and exactly the sort of thing the SEC should be looking into.

Still, I don't think they will get anywhere due to health regulations in this country.
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Cordfucious of Tech Clan
01/21/09

@Monty: HIPAA has no bearing in this case. The privicay portion of his health records are no longer an issue once legal investigations and proceedings have begun. They will not become public record..... but HIPPA dies when you are suspected to have broken the law. [www.hhs.gov] See the Permitted Uses and Disclosures section. Happens all the time where I work. Especially with Cancer patients and insurance policies
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MeanMF
01/21/09

In reply to SEC Examining Apple on Steve Jobs' Health Disclosures
I think every post about Apple from now on should be tagged with "Jim Goldman is a little Apple-sucking critter".
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Jrsy Devil's Advocate®
01/21/09

@MeanMF: Or alternately we could just post an image of a roasted pig with an apple in it's mouth...
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evophoto
01/21/09

In reply to SEC Examining Apple on Steve Jobs' Health Disclosures
I'm sorry, but Apple is not Steve Jobs. Apple is me. Apple is anyone who ever used a Mac. Apple is and will continue to be about what's cool in all of us. Did Steve play a major role. Of course he did. Would Apple be where it is now if he had not come back? Probably not. But to say that it will die if Steve dies, well that is just an insult to Steve and to the Apple community.
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Jesus Diaz
01/21/09

@evophoto: While Apple is not Steve Jobs, the man is vital to the success of Apple: He has a great team, but he's the only one who has the entire play field in his mind and can see opportunity where others can't. Whether people like him or not, he is a genius when it comes to play this game, and the company owes all of its success to his command and the talent of those who work for him.
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Mandatory_Field
01/21/09

@evophoto: Yes, everyone is Apple. But Steve Jobs is the star Quarterback with 7 Superbowl rings, and you're the towelboy who started yesterday. Who has a greater impact on the company fundamentals, and shareholder confidence?
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HonusWScruggs
01/21/09

In reply to SEC Examining Apple on Steve Jobs' Health Disclosures
Jesus, I'm a bit unclear on your editorial position in this. Are the quotes around "work" (with reference to the SEC) to imply your lack of regard for their efforts in general and, more specifically, that you have a problem with this present investigation?

Not implying anything about my own opinion; just asking for clarification.
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Jesus Diaz
01/21/09

@HonusWScruggs: when things like Madoff and Enron can happen, is the SEC really doing its work?
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HonusWScruggs
01/21/09

@Jesus Diaz: One might counter by asking when someone is murdered, are the police doing their work? Sure, they just can't be everywhere and do everything. Sometimes all they can do is investigate after the fact.

But that's academic. In the case of the SEC, you're skepticism probably isn't off base.
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Jesus Diaz
01/21/09

@HonusWScruggs: True. But somehow, given how the markets work (or are suppose to work), the analogy with murders is not exactly right. Sure, shit can happen, but these guys are-in theory-in charge of regularly monitoring all these companies and market moves. The police is not monitoring every single citizen, but the SEC is monitoring every public company.
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TerryinSt.Paul
01/21/09

In reply to SEC Examining Apple on Steve Jobs' Health Disclosures
Woo hoo!!!! The Giz singlehandedly took down the evil empire. Seriously, It is very cool to watch your site grow. I became a commenter 2 years ago when noone knew who you were. Wow have you grown. I shouldv'e bought stock.
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TechSurfer
01/21/09

@TerryinSt.Paul: @TerryinSt.Paul: Noone knew Gizmodo? Who is Noone?

Assuming you meant to say "no one" knew who Gizmodo was two years ago, I think you're incorrect. Just because you didn't know about the best tech/gadget blog two years ago didn't mean Gizmodo wasn't widely known as such,

If Apple is the evil empire, who are the good guys?

Shouldv'e?

Sorry to sound so snarky, but your post rubbed me the wrong way in about 5 different directions.
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TerryinSt.Paul
01/21/09

@TechSurfer:
I became a commenter 2 years ago when noone knew who you were. Wow have you grown. I shouldv'e bought stock. Who is Noone?:
[en.wikipedia.org]
He was the one who directed me to this site and one of the original commenters! I'll give you the incorrect placement of said apostrophe but you know what happens when you assu ( no me you f'n grammar natzi). When pete showed me this site 2 years ago, CNN wasn't quoting the Giz and ending up with egg on their face. It still is early, why don't you go back to mommy's basement and play a little more WOW while I go back to work.
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TechSurfer
01/21/09

@TerryinSt.Paul: I'm 42 and was up early feeding my 5 week old son -- I don't game at all, writing snarky reply posts is my main diversion.

Gizmodo is 7 years old, and Steve Jobs called it his favorite blog almost two years ago. Face it, Gizmodo has been a major force for longer than you seem to realize.

BTW, you didn't answer my question, if Apple is the evil empire, who are the good guys?
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Monty
01/21/09

@TechSurfer:

if Apple is the evil empire, who are the good guys?

The Smurfs, of course. Their cute blue harmonious with nature lifestyle is what makes life worth living for the trillions of woodland creatures throughout our universe. Soon Papa Smurf will take over Apple in an attempt to set the ship right. Unfortunately, in a board meeting someone will accidentally drop an MacBook Air on him, paralyzing him for the rest of his natural life and causing wide-spread panic with woodland creatures everywhere that will soon rebel and destroy civilization as we know it.

I could go on, but I will let it actually happen so we have something to read about in the papers.
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