Disney's late Friday fessing up

The Mouse House has finished up its inquiry into backdating options at Pixar, which it now owns, and has concluded that, well, yeah, there was a bunch of stuff going on at the Steve Jobs' run animation studio before it was purchased by Disney, but that no one now connected with Disney did anything wrong, so can't we just all just get along and forget about it? Pleeese. OK, that's my translation of the press release, which came out this afternoon, right when the financial press was ready to sink its teeth into the story (hey financial press, anybody there? Oh, we forgot, there's a snow storm in NY right now). Anyway, the statement exonerates Jobs, who helped negotiate an employment contract with director John Lasseter that had stock option grants being priced at suspiciously low levels. Disney would offer no explanation of how the backdating occurred or who was responsible. Natch. And Jobs isn't talking. Natch. The Disney "probe" is separate from the Apple "probe" that found Jobs to be aware of some favorable grant dates at the computer company, but not to the point where he did anything wrong. Natch. Supposedly, the U.S. Attorney's office in SF is still sniffing around Pixar, but I wouldn't get my hopes up. WSJ Bloomberg


4:49 PM Friday, March 16 2007 • Link
Email or share:
© 2003-2008   •  About LA Observed  •  Contact the editor
LA Biz Observed
4:49 PM Fri | Forget plastics, the real action these days is arranging going-out-of-business sales.
4:10 PM Fri | Louis Verdad was one of L.A.'s hottest designers, but he had little idea of how to run a business.
Native Intelligence
TJ Sullivan | Without referencing its recent layoff, the Ventura County Star's editor says the suburban LA paper is now "more streamlined and, in many ways, much more efficient."
Deanne Stillman | We stripped the Indians of their ponies, and now we're doing it to ourselves.
TJ Sullivan | When the sun looks like that, there's a big fire somewhere regardless of whether we see or smell smoke.
Bill Boyarsky
Lee Abrams, Tribune Company's chief innovation officer, doesn’t seem too impressed with the Los Angeles Times. That’s the feeling I got when he appeared at the Los Angeles Press Club.
Jenny Burman
Seven or fifteen minutes from now I can definitively say I didn't hear the sound of sirens.
Here in Malibu
Making our bed, lying in it.
Sponsors
Jewish Journal logo
California Wellness Foundation
Playa Vista ad
Premium Blogads

 
Books, Blogs & Events