Thursday, January 22, 2009
I'm Confused by Regulators...
So the same people that couldn't figure out if Madoff was running a Ponzi scheme and failed entirely to deal with the subprime mortgage market are going to investigate the way Apple disclosed Steve Jobs' illness. Am I the only one that is a little confused by this. Do I really want regulators to go into someone's medical records? I used to have faith that they have some knowledge in accounting (apparently they don't), but I know they don't know dick about medicine.
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2 comments:
I understand that they have done a bad job in the past but that does not mean that they should stop doing their job. The reality is this. Apple is overvalued. They are primarily an iPod company at this point that will reach market saturation. Their stock is valued high because investors believe that Steve Jobs adds value to the future health of the company. If the company misled investors, it is illegal... I agree there is not and should not be much confidence in them deciding this but confidence can only be earned back by actually doing your job...
I guess I didn't really express my concern correctly in my blog. Maybe this is common for CEOs to report, maybe there's an "Injury Report" similar to the NFL. I know in college they tried to use patient privacy laws to restrict the flow of injury reporting. Maybe it makes since, since the NFL has an injury report for gambling, and the stock market is pretty much gambling; but do we really want everyone to have to release their health status to lead a company? I'm conflicted how I feel about elected officials releasing their medical records, but the heads of companies? Do CEOs have to go through a physical before being hired similar to a pitcher? Maybe this is all common and I just don't know enough about it.
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