• Business Week, Friday, January 19, 2007 11:31 AM

Steve Jobs options scandal? With 21 million iPods sold, $7.1 billion in revenues, including a billion-dollar fourth quarter profit, and the beginning a year which will see the debut of more consumer products than ever before, investors could be forgiven for forgetting about the whole options backdating scandal that pervaded Apple Computer for so many years.

In fact, Apple is the new Google of the consumers-electronics industry, gaining incredible media attention with each new product launch, while posting the kind of growth--a 78% gain in net income last quarter--that would make anyone overlook a slight blip in accounting procedure.

And given that investors are the only ones who could revolt against CEO Steve Jobs and his board for the wrongdoings of the past, nothing to that effect is likely to happen, not while the company posts those kind of rock star numbers. Even iTunes sales were stronger than expected.

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