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As of today, the FASB (Financial Accounting Standards Board) has not made 'CEO's health' to be something that should be legally disclosed. Should they or should

As of today, the FASB (Financial Accounting Standards Board) has not made 'CEO's health' to be something that should be legally disclosed. Should they or shouldn't they is beyond the point. But till then, I think its stupid to blame Apple.

deleted 17y ago
[deleted]
halo 17y ago
So you're saying that because Apple was given the choice as to whether or not to reveal that information, it's 'stupid' to blame Apple for deliberately making the choice to hide it.
russell 17y ago
Apple lied. A hormone imbalance is not the same as a liver transplant. It's the kind of information that can materially affect the price of a stock. The SEC will probably take an interest. EDIT: It was certainly a lie by omission. Apple is a large corporation with a significant number of employees and stockholders. It is a requirement to keep them informed. The secrecy and cult of personality is fine as a marketing ploy, but not as a fiduciary responsibility.
- dchest 17y ago
  Lied? Steve Jobs, January 5, 2009 (http://www.apple.com/pr/library/2009/01/05sjletter.html http://www.apple.com/pr/library/2009/01/05sjletter.html): As many of you know, I have been losing weight throughout 2008. The reason has been a mystery to me and my doctors. A few weeks ago, I decided that getting to the root cause of this and reversing it needed to become my #1 priority. Fortunately, after further testing, my doctors think they have found the cause—a hormone imbalance that has been “robbing” me of the proteins my body needs to be healthy. Sophisticated blood tests have confirmed this diagnosis. Some random article on hormone imbalance (http://www.thefamilyhomestead.com/hormoneimbalance.html http://www.thefamilyhomestead.com/hormoneimbalance.html): A second factor that leads to hormonal imbalance is liver health.
  - kyro 17y ago
    That's like a pilot saying there's slight turbulence and forgetting to mention that the turbulence is a result of a dying motor, severe fuel leak, and rapid decrease in cabin pressure.
    - xenophanes 17y ago
      Or he didn't know how bad it was yet when he said that. In any case, it's not a lie in any strict legal sense.
      - kyro 17y ago
        So you think in a span of 6 months, they conducted more tests, waited for the results, analyzed them, concluded Steve needed a new liver, put in the papers for the liver, received it, and finally gave him the transplant?
        xenophanes 17y ago
        I said that could have happened. I have no idea if it did or not. It sounds possible to a lay person like me. Six months is a long time! Is the medical profession really so slow that that stuff can't happen within 180 days even for rich people who spare no expense? If you know the industry and say it's too slow to do that stuff in 6 months I'll believe you, but don't be too surprised that lay people don't already know it's like that. How long does an average medical test take if a team works on it as a top priority?
        ajkirwin 17y ago
        Uh, yeah, all that happening within six months is fucking rare, no matter how much money you have. Because of transplant waiting lists. You don't get higher on them just because you're rich, thankfully.
        xenophanes 17y ago
bbuffone 17y ago
I don't think that the health of the CEO is the important issue for disclosure. The main issue is the fact or prospective that Apple will fail/falter if Steve Jobs is no longer capable of being CEO. This is a multi-billion dollar organization. It is the responsibility of the organization to ensure they are not single threaded. What if he was hit by a car crossing the road while texting on his iPhone? What about a plane crash? Sudden heart attach? or any other horrible accident? Steve Jobs is obviously a one in a billion (6 people on the planet like him) type of person, but still. If there is one thing that Steve Jobs should do in this chapter of his career is to take that Steve Jobs magic and find, mold, develop his replacement and market the hell out of them.

deleted 17y ago

[deleted]

halo 17y ago

So you're saying that because Apple was given the choice as to whether or not to reveal that information, it's 'stupid' to blame Apple for deliberately making the choice to hide it.

russell 17y ago

Apple lied. A hormone imbalance is not the same as a liver transplant. It's the kind of information that can materially affect the price of a stock. The SEC will probably take an interest. EDIT: It was certainly a lie by omission. Apple is a large corporation with a significant number of employees and stockholders. It is a requirement to keep them informed. The secrecy and cult of personality is fine as a marketing ploy, but not as a fiduciary responsibility.

dchest 17y ago
Lied? Steve Jobs, January 5, 2009 (http://www.apple.com/pr/library/2009/01/05sjletter.html http://www.apple.com/pr/library/2009/01/05sjletter.html): As many of you know, I have been losing weight throughout 2008. The reason has been a mystery to me and my doctors. A few weeks ago, I decided that getting to the root cause of this and reversing it needed to become my #1 priority. Fortunately, after further testing, my doctors think they have found the cause—a hormone imbalance that has been “robbing” me of the proteins my body needs to be healthy. Sophisticated blood tests have confirmed this diagnosis. Some random article on hormone imbalance (http://www.thefamilyhomestead.com/hormoneimbalance.html http://www.thefamilyhomestead.com/hormoneimbalance.html): A second factor that leads to hormonal imbalance is liver health.
- kyro 17y ago
  That's like a pilot saying there's slight turbulence and forgetting to mention that the turbulence is a result of a dying motor, severe fuel leak, and rapid decrease in cabin pressure.
  - xenophanes 17y ago
    Or he didn't know how bad it was yet when he said that. In any case, it's not a lie in any strict legal sense.
    - kyro 17y ago
      So you think in a span of 6 months, they conducted more tests, waited for the results, analyzed them, concluded Steve needed a new liver, put in the papers for the liver, received it, and finally gave him the transplant?
      - xenophanes 17y ago
        I said that could have happened. I have no idea if it did or not. It sounds possible to a lay person like me. Six months is a long time! Is the medical profession really so slow that that stuff can't happen within 180 days even for rich people who spare no expense? If you know the industry and say it's too slow to do that stuff in 6 months I'll believe you, but don't be too surprised that lay people don't already know it's like that. How long does an average medical test take if a team works on it as a top priority?
        ajkirwin 17y ago
        Uh, yeah, all that happening within six months is fucking rare, no matter how much money you have. Because of transplant waiting lists. You don't get higher on them just because you're rich, thankfully.
        xenophanes 17y ago

bbuffone 17y ago

I don't think that the health of the CEO is the important issue for disclosure. The main issue is the fact or prospective that Apple will fail/falter if Steve Jobs is no longer capable of being CEO. This is a multi-billion dollar organization. It is the responsibility of the organization to ensure they are not single threaded. What if he was hit by a car crossing the road while texting on his iPhone? What about a plane crash? Sudden heart attach? or any other horrible accident? Steve Jobs is obviously a one in a billion (6 people on the planet like him) type of person, but still. If there is one thing that Steve Jobs should do in this chapter of his career is to take that Steve Jobs magic and find, mold, develop his replacement and market the hell out of them.