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Backdating and Backtracking at ACS

From a press release just sent out:

Affiliated Computer Services, Inc. (NYSE: ACS - News), a premier provider of business process outsourcing and information technology solutions, announced today that it will host the inaugural meeting of the Dallas Area Chapter of the International Association of Outsourcing Professionals (IAOP) to promote continued innovation in this growing industry.

One more thing ACS is promoting and innovating: backdating stock options, including those of chairman Darwin Deason and newly installed CEO Lynn Blodgett. That's what the company revealed Friday in filings made with the Securities and Exchange Commission. Previously, the company said Deason didn't know the backdating was taking place. Uh. Yeah. Uh. Hmm.

Then again, when you keep getting new multi-million-dollar deals and extending existing ones, what's a little impropriety amongst friends? --Robert Wilonsky

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