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Week in Review - 09/01/03-09/05/03


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Week in Review - 09/01/03-09/05/03

Virginia Tech confirmed this week that it will use 1,100 Power Mac G5s as part of a supercomputer cluster now under construction. "The new cluster is designed to make its way into the rankings of the world's largest supercomputers, a list that currently has no Macs," reported CNET News.com. "Virginia Tech will use the cluster to perform research on nanoscale electronics, chemistry, aerodynamics, molecular statics, computational acoustics and molecular modeling, among other tasks." The university said it has been working with Apple for months to set up the cluster.

In a statement issued Tuesday, Apple said that it had started shipping some dual 2GHz Power Mac G5s , but said it would be getting up to volume production speed in the next two weeks. "The dual-processor 2GHz Power Mac G5s have begun shipping and are making their way to customers, with production volumes ramping up during the next two weeks," Apple said in the statement. "The 1.6GHz and 1.8GHz models are already in volume production, and we have shipped over 25,000 of them." The statement was not clear as to whom the dual G5s were being shipped to. As we reported last week, Apple said in an e-mail that "initial units will be sent to education institutions to meet key back to school deadlines."

Shares of Apple rose 24 cents to close at a 52-week high of US$22.85 Thursday. Apple has surged nearly 80 percent (79.64) since April 17, 2003, when it dropped to $12.72 a share. Since then, Apple has gained more than $10 a share by introducing new iPods, iTunes 4 and the iTunes Music Store, iSight and iChat AV, Safari 1.0, Mac OS X 10.3 Panther, and the Power Mac G5.

In a move that could test the legalities of Internet music resale rights, George Hotelling on Tuesday night put a digital song he purchased on Apple's iTunes Music Store up for auction on eBay. "Hotelling said he isn't all that concerned about getting his money back for the song, 'Double Dutch Bus,' which cost him 99 cents," reports CNET News.com. "Instead, he said he's using the attempted sale to probe some thorny consumer issues stemming from commercial online music services, in particular, technology known as digital rights management that's used to prevent unauthorized copying." On Thursday, eBay closed down the auction, saying the attempted sale violated its auction listing policies.

Apple posted a Knowledge Base document that says the Power Mac G5 is not supported for use with any version of Mac OS X Server 10.2 , or any earlier version of Mac OS X Server. "Mac OS X Server 10.3 will be supported on Power Mac G5 computers," notes the document. "Power Mac G5 computers require Mac OS X 10.2.7 (G5), which is made specifically for this computer. Mac OS X 10.2.7 (G5) cannot be installed on other computers, and other versions of Mac OS X 10.2 (both server and client) cannot be installed on the Power Mac G5 computer."

Forbes published its latest technology CEO job approval ratings, where visitors can vote on the performance of a list of CEOs. Apple CEO Steve Jobs received a rating of 91% for August, up from 77% in July. Rounding out the top three are John Chambers of Cisco Systems at 76% and Carleton Fiorina of HP at only 43%. Also of note, Microsoft CEO Steve Ballmer received an embarrassing 7% approval rating.
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Good job, Murlyn.
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Thank MacMinute Although it was hard work to put it up *hehe* j/k
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Haha...yes I think some people don't understand the difficulty in posting this type of thing....thanks for the hard work

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schweb, you're back. Dude have you been on vacation. It l0oked like Muryln was taking overm as our new reporter. lol
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Between the both of us I think we could cover most everything It has been quite some time Schweb.. we missed you!
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Haha...yes, between vacations and the massive blackout it has been some time since I've been able to spend some time here. But I see I left it in good hands :-)

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yeah you have a good staff here
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This is a followup to the first post:

Quote:
Originally Posted by Murlyn
In a move that could test the legalities of Internet music resale rights, George Hotelling on Tuesday night put a digital song he purchased on Apple's iTunes Music Store up for auction on eBay. "Hotelling said he isn't all that concerned about getting his money back for the song, 'Double Dutch Bus,' which cost him 99 cents," reports CNET News.com. "Instead, he said he's using the attempted sale to probe some thorny consumer issues stemming from commercial online music services, in particular, technology known as digital rights management that's used to prevent unauthorized copying." On Thursday, eBay closed down the auction, saying the attempted sale violated its auction listing policies.
Source: MacMinute.com

Apple exec: Reselling iTunes songs 'impractical'
September 8, 2003 - 22:02 EDT An Apple executive on Monday downplayed recent questions over the resale policy of songs downloaded from the company's iTunes Music Store. "Apple's position is that it is impractical, though perhaps within someone's rights, to sell music purchased online," Peter Lowe, Apple's director of marketing for applications and services, told CNET News.com. Lowe's comments came after eBay last week canceled an auction that sought to resell a song that was purchased through the iTunes Store, saying the attempted sale violated its auction listing policies.
Murlyn

 
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Another followup to the first post:

Quote:
Originally Posted by Murlyn
In a move that could test the legalities of Internet music resale rights, George Hotelling on Tuesday night put a digital song he purchased on Apple's iTunes Music Store up for auction on eBay. "Hotelling said he isn't all that concerned about getting his money back for the song, 'Double Dutch Bus,' which cost him 99 cents," reports CNET News.com. "Instead, he said he's using the attempted sale to probe some thorny consumer issues stemming from commercial online music services, in particular, technology known as digital rights management that's used to prevent unauthorized copying." On Thursday, eBay closed down the auction, saying the attempted sale violated its auction listing policies.
Source: MacMinute.com

Mac user successfully resells iTunes song
September 10, 2003 - 15:27 EDT CNET News.com reports that George Hotelling has successfully resold a song he purchased through Apple's iTunes Music Store, "ending a weeklong exercise he hoped would highlight the legal and technical nuances of emerging digital music services." Hotelling said he transfered the song to a friend, Keith Elder. "In order to close the deal, Hotelling said he had to transfer control of his entire iTunes Music Store account to Elder. He said he intends to demand 50 cents from Elder for the account, which included one song... Hotelling said he accomplished the transfer by changing his account credit card to a prepaid card he purchased at a 7-Eleven store. After spending most of the money on the card, he gave Elder his iTunes account information and password." Hotelling last week put the song up for auction, but eBay pulled the auction, saying it violated its listing policies.

My Comments: Wow I don't think many people will be doing this
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Quote:
Apple probe reveals stock option irregularities, board member resigns
Submitted by Alexandros Roussos on Thu, 2006-10-05 02:29. (GMT)

Apple has published a statement regarding the probe the company has started in June so as to find if there were irregularities with stock-option grants. The company will likely restate its earnings as a result of these irregularities.

The indepedendant investigation has mainly reavealed the following irregularities:

* The investigation found no misconduct by any member of Apple's
current management team.
* The most recent evidence of irregularities relates to a January 2002
grant.
* Stock option grants made on 15 dates between 1997 and 2002 appear to
have grant dates that precede the approval of those grants.
* In a few instances, Apple CEO Steve Jobs was aware that favorable
grant dates had been selected, but he did not receive or otherwise
benefit from these grants and was unaware of the accounting
implications.
* The investigation raised serious concerns regarding the actions of
two former officers in connection with the accounting, recording and
reporting of stock option grants. The company will provide all
details regarding their actions to the SEC.

Steve Jobs has also made a statement so as to apologize shareholders for his bad conduct:

"I apologize to Apple's shareholders and employees for these problems, which happened on my watch. They are completely out of character for Apple," said Steve Jobs, Apple's CEO. "We will now work to resolve the remaining issues as quickly as possible and to put the proper remedial measures in place to ensure that this never happens again."

Additionally, Apple's former CFO Fred Andersen has resigned from the company's board of directors, as he was Apple's CFO when the irregularities happened. He said he believes "it is in Apple's best interest that he resign from the board at the present time."

Analysts are relieved about the fact that Jobs is unlikely to be ousted from Apple but remain concerned as the stock can be negatively impacted if the earnings restatements include major changes to Apple's financial results.

"The risk was that if something bizarre happened and Steve Jobs got fired over it, that could have significantly impacted the company in a negative way. Steve Jobs is Apple. Ultimately, the scope of the backdating was bigger than we thought, but the impact turned out to be less severe." told Piper Jeffrey's Gene Munster to the AP.

Apple has filed an 8K form so as to officialize its statement with the SEC. The stock was up $1.30 (or 1.75%) at $75.38 during the regular trading session but fell back $0.58 (0.77%) to $74.80 during after hours trading.
SOURCES:

http://www.macscoop.com/
http://www.apple.com/pr/library/2006...stigation.html
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WHY ARE YOU DIGGING up this old thread?

If you liked this post, consider using the Reputation System.
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Because I didn't want to make a new week in review thread when there already was one. Granted it is '03 but hey this one is pretty unused and fine to post this one news article. :black:
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Please don't dig up threads that are 3 years old, especially when it has nothing to do with the title of the thread

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