If Apple Lost Jobs

While the prevailing opinion on Wall Street seems to be that Steve Jobs is staying put as CEO of Apple (AAPL Quote) despite a lingering stock-options probe, the snowballing prosecutions for corporate backdating prompt the question of how the company would fare if Jobs were no longer in charge.

Apple has said that Jobs knew of backdated option grants but "was unaware of the accounting implications," and an internal investigation cleared him of misconduct.

Still, according to media reports, he's been questioned by authorities at the Securities and Exchange Commission, and the investigation by federal authorities is ongoing.

With such questions still swirling, some wonder about the possible downside of leaning so heavily on one person to drive the company's success -- and what the Jobs-friendly board is doing to prepare for the possibility of losing its star pitchman. ...