doug@terak.UUCP (Doug Pardee) (10/25/85)
> A stockholder suit is no fun, and I'm sure that Apple's lawyers told > Scully, et all, 'If you don't sue him for this violation of his fiduciary > responsibility, some stockholders will sue him, AND YOU.' or words to > this effect. This is an important point. Many of us separate the people who work for a company into "workers" and "management". Being at the "worker" level, we are unaware the there are actually three levels: workers, employee managers, and company officers. A company officer (especially in a company like Apple where the stock is traded publicly) is in a totally different situation from the everyday employee managers. In particular, he is the company's legal representative, and so is held *legally* responsible for how his actions (or inaction) affect the company. If he misbehaves, he has a lot more to worry about than being fired. Like lawsuits, or even prison. Unless someone shows that Jobs was not a company officer at Apple, Jobs is in deep water with his actions. The "Errors and Omissions" insurance policy isn't likely to pay off on this one! -- Doug Pardee -- CalComp -- {calcom1,savax,seismo,decvax,ihnp4}!terak!doug
ralphw@ius2.cs.cmu.edu (Ralph Hyre) (10/30/85)
In article <825@terak.UUCP> doug@terak.UUCP (Doug Pardee) writes: >Unless someone shows that Jobs was not a company officer at Apple, Jobs >is in deep water with his actions. The "Errors and Omissions" >insurance policy isn't likely to pay off on this one! I suspect that Jobs will try to claim that he was not a company officer at Apple at the time he committed the alleged infractions, since he had no day-to-day operating responsibilities, accoring to what he says. Is the title 'Chairman of the Board' make one a 'real' company officer in absense of responsibilities? (Of course, he was a 'real' company officer until June or so, if that has any bearing on the case) -- - Ralph Internet: ralphw@c.cs.cmu.edu (cmu-cs-c.arpa) Usenet: ralphw@mit-eddie.uucp Fidonet: Ralph Hyre at Fido #385 Pitt-Bull (or maybe Net 129, node 0) Snail Mail: don't bother