No, the options backdating scandal's not yet over
For those lucky souls who know nothing about the current options backdating scandal, please skip to the next post, because I'm not willing to bore you with the details.
I am, however, willing to bore you with this:
This morning's WSJ contains an article entitled "Cablevision Gave Backdated Grant To Dead Official"
Cablevision awarded options to a vice chairman after his 1999 death but backdated them to make it appear they were awarded when he was still alive. Cablevision restated its results as an options probe escalated.
I'm trying to picture the response from the PR person at Cablevision. Something like, say, 'Oh, don't worry - they were way out of the money, since we didn't figure he'd complain' or 'We spoke with his lawyer and were informed "No, no, 'e's uh,...he's resting."'
Yes, this scandal has officially become Pythonesque.
[ You're too late, comments are closed ]

