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Steve Jobs Taking Medical Leave of Absence
Uttini writes "Apple CEO Steve Jobs has just announced that he is taking a medical leave of absence, according to a release issued by the company today. While it's unclear what the reason is for the medical leave, Jobs' previous medical history includes pancreatic cancer as well as a liver transplant. While Jobs is out, Tim Cook is to be responsible for all of Apple's day to day operations."
I hope that no matter what operating system or computer manufacturer you love or hate, everyone can come together and wish him well. Whether you love or hate what he's done in the industry, he's a fellow human being first, and I hope he has a speedy recovery.
AAPL fall down, go BOOM!
Actually, there might not be much effect this time. Maybe investors are getting used to this.
This could be somewhat troubling for Apple. The company is doing extremely well at the moment, and I'm guessing that's thanks to Jobs. If he is forced to retire permanently, could Apple enter another death spiral?
While Steve leaves Apple in capable hands for now, no CEO is as closely associated to the public image as Steve is with Apple. Seriously how many people can name the CEO of another company much less recognize the person? There are few: Larry Ellison, Philip Knight, Rupert Murdoch, Warren Buffet. The stock is going to take a dip just on this news alone.
Well, there's spam egg sausage and spam, that's not got much spam in it.
Man, it would totally suck to die as a billionaire at his age...
Bot Assisted Blogging
(Orthogonal to the fact that everyone wishes Steve good health,)
It's good for Apple that Tim Cook is getting so much exposure at the helm. There are many shareholders, as well as a significant amount of the tech press, that think Apple can't stand on its own without Steve. Any way Apple can show that it can continue it's current success streak with or without Steve is good for the long-term health of the company.
I hope that no matter what operating system or computer manufacturer you love or hate, everyone can come together and wish him well. Whether you love or hate what he's done in the industry, he's a fellow human being first, and I hope he has a speedy recovery.
Sure. Though I wish he had the same respect for disabled people.
This will cause apple stock to drop. The question is will it mean the end of innovation at apple. If not then once it is seen that apple continues to operate at the same level the stock will rebound. In that case it should be buy, buy, buy. When the panic ends and apple is still there the time to buy will be gone. In the stock world it's buy low, sell high.
..to dampen the blow to the stock price... smart..
You have no idea what Jobs is suffering from; it could be a recurrence of his cancer. Being a billionaire will not mean that he suffers any less if it is indeed another bout of cancer. Other people are suffering, and you know what? We should hope that their suffering ends also.
Palm trees and 8
How well you can do when you've got a lot of money. I'm pretty sure if I had pancreatic cancer I'd be dead right now.
Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
Well at least we know it couldn't be a virus.....
I never understood the volatility of Apple's stock. Jobs could stub his toe and the stock would drop. Someone who works at Infinite Loop could get constipated, and the stock would drop. Someone's iPhone could get a scratch on the front glass, and the stock would drop.
Why is Apple's stock so prone to heavy fluctuation at the even the slightest hint of something not being perfect?
Living With a Nerd
I'm not sure what you're saying here; are you saying that we shouldn't wish well those who are being raped and killed? Or that we shouldn't wish well those who are rich and successful? Or that we shouldn't have news stories about significant events in the life of multinational tech companies?
Or is it simply a case of the usual "You're doing X while more important thing Y is happening, so you're a bad person"?
He has more money than god. If a cure exists for whatever ails him, you can be sure he'll receive it.
Turtles are reported running for cover.
Perhaps no other company is more tied to its CEO than Jobs, except maybe Warren Buffett. For as much as he and his family wish for privacy however it is reasonable for stockholders, especially HUGE stockholders to know how his condition is. When you buy a stock you are buying the leadership also. If anything this is probably going to drop AAPL's stock valuation down a bit to a more realistic level. 2nd biggest market cap in the world? Really? It certainly doesn't deserve it and with their margins getting squeezed and the fact that there only so many worlds they can conquer means that the shorts are probably going to make some $$$ on AAPL soon. Given that the survival of pancreatic cancer is so low and that Jobs decided to do more hippy dippy holistic approaches doesn't bode well for his survival. That's just the way it is. That being said, there probably is no visionary that comes close to Jobs and I am thankful for my iPhone, my iPod, my Mac and my iPad.
Yeah, maybe he's just parking where he wants on the private property he (colloquially speaking) owns and operates.
And maybe he does have reason to park in a handicapped spot. Not all debilitating medical issues are obvious, and Jobs is quite private about what is, well, private. The man survived a nigh-unto-unsurvivable disease, and may have limitations you are not aware of.
Anecdote: an acquaintance stops breathing when sleeping, and is prone to narcolepsy - not a good combination. Otherwise healthy, she often garners snide comments from such as yourself for parking in a handicap space so she is close to the crucial breathing machine kept in the car.
Just sayin'.
Can we get a "-1 Wrong" moderation option?
Tim cook streamlined Apple's supply chain and increased profit margins considerably. Although he is not a designer, he is a great choice to replace Steve Jobs. (In saying this, I obviously hope that the iPod, iPhone, iPod were not solely motivated by Steve Jobs, but by Apple's design team. If not, we as consumers are screwed)
Given all his health problems, Steve Jobs needs to retire and enjoy life a little. One of weird things is I keep reading all these articles that say Apple doesn't have anyone who can replace Jobs and Microsoft doesn't have anyone who can replace Steve Ballmer. I find that very hard to believe. But, even worse, it it's really true, they're pretty well screwed.
The issue here is that Steve IS behind most of the designs. He is the one that pushes the products according to his wishes. No, when Steve leaves i predict a very hard time for Apple, it will not stay the same at all. I would expect a number of products lined up but that's about it.
It is not my favorite brand, i'll be honest about that, too expensive and way too much hyping but i do hope he gets better, looks like he had no other options so looks like bad news indeed.
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He has a bad case of flash fever. Sorry it had to be said.
"We are just a war away from Amerikastan. When god vs god the undoing of man." Dave Mustaine
Apple aren't in the market of innovation, they're in the market of aspiration. Nothing they've done has been "innovative", every product they've release in at least the last ten years has already been done, but they package it in a format that makes people desire it. They're pretty much like a top clothes designer. A top designer can charge a premium way above the cost of his materials or the price of his competitors because people want to be seen in his clothes. If he loses the ability to design, he can still sell mass-produced pants, but they lose their elite appeal and have to compete purely on price, that's a downward spiral. Don't underestimate just how closely linked the health of Jobs and the health of Apple actually are.
Except we do care for our quota of 10 obscure people per month. (Your quota may vary.) Usually it's the "Give him/her a chance".
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Please don't assume that everyone else has the same default lack of caring about others. I tend to care about everyone. I'm not saying that's a better attitude -- though it might be -- but it's certainly not the same as yours.
Sigmund
.. and trust me, I'd say not being a billionaire sucks more.
A billionaire not only has people to help get through each day, but there are other people to research possibilities and provide the best possible care.
However, for me, it sucks more because I don't have the money (or the time) to do all the things I want to do, to see all the things I want to see in this still very beautiful and wonderful world. Nor can I care for those nearest me in the way I want to.
I wish SJ the best and hope he recovers from whatever ails him.
--I thought I was wrong once, but I was mistaken.
Comment removed based on user account deletion
To vote againsta motion to publicly disclose succession plans....
Let's hope the guy recovers, but, at the end, we know that one can not evade death forever.
*** Suerte a todos y Feliz dia!
I'm sure Microsoft could easily find another ex Procter & Gamble product manager to replace Steve Ballmer. What they need is someone to replace Bill Gates, and that isn't so easy.
No, she doesn't drive herself - which makes the appearance even more disconcerting to uninformed onlookers when a perfectly healthy driver uses a handicapped spot.
Can we get a "-1 Wrong" moderation option?
The issue here is that Steve IS behind most of the designs.
No he's not. Jonathan Ives is behind the designs. You can tell the exact point where Ives stopped letting Steve design the iMacs. Steve's last designed iMac was the one that looked like the lamp. Ever since then it's been all Ives.
Steve's health is already priced in. The run-up in share price has been driven by actual earnings, in fact the PE is down from a year or two ago. http://www.asymco.com/2010/08/02/apples-pe-ex-cash-nearing-15/
"tank a few percent"?
Sorry, but "a few percent" is hardly statistically significant, and sure isn't enough to bring Apple's P/E ration down significantly.
A P/E ratio of 23 is above average (S&P 500 has averaged, over its lifetime, a P/E ratio of about 15-16), but given what GP said about new product pipeline, I don't think it's astronomically overvalued, unless that pipeline suddenly dries up.
It's entirely possible the pipeline stops where Steve Jobs' vision & guidance end, but even still, Apple probably has a good 3-5 years of new products on the calendar already. Given his past health scares, I doubt they're leaving much to chance with succession planning.
Apple formally set its succession plan for the eventual departure of CEO Steve Jobs as it named marketing chief Steve Ballmer as chief operating officer.
The move also came as Andrew Fastow was named chief financial officer. Fastow was previously in charge of the Northern Natural Gas Company and will succeed Peter Oppenheimer at the end of the year.
As head of Microsoft, Ballmer has led the company to remain the largest computer operating system provider and has taken Apple's best punch via OSX. Meanwhile, Microsoft has launched the Windows Mobile franchise and partnered with Dell.
In a statement, Apple said Ballmer will oversee the company’s business, computer and wireless businesses. He will also oversee technology management and CIO functions. David J. Lesar will become CEO of Microsoft and Gayle Troberman., currently chief marketing officer of Microsoft will become COO.
Steve, you beat cancer. That right there entitles you to take some time off. On top of that, you beat the odds and had a cancer that was rare and treatable rather than terminal. And you have a new liver. I'm surprised you are doing as much as you are.
Go, take time off. Focus on your health. Come back to announce amazing apple products when you can.
It's either on the beat or off the beat, it's that easy.
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--
Sure, Gates is trying to buy a Nobel Peace Prize, but at least some good will come out of the attempt. What has Jobs done with his filthy lucre (other than buy the naming rights to new buildings for 'Sisters of the Poor' Stanford)? And to be blunt: do you really think Steve Jobs would extend to any of us the same human compassion you're asking?
Nothing they've done has been "innovative"
I'm not an Apple fan, far from it, but your claim is just wrong. The wheel on the ipod? itunes? The original Mac? Zero config networking? Stepping way out with the ipad?
Apple may be many distasteful things, but "not innovative" is not one of them.
Have you got your LWN subscription yet?
I don't use the iPhone because I don't like the control Apple exerts over it. Still, I recognize that the place smart phones are in today is due to the existence of the iPhone and without it those of us using smart phones would still be using Windows Mobile 6.5 bricks. So my relationship with Apple is both positive and negative. If we lose Steve Jobs, we will lose a driving force in the industry that will effect the quality of the electronics you buy; Apple or otherwise.
or else!
I'm sure Microsoft could easily find another ex Procter & Gamble product manager to replace Steve Ballmer. What they need is someone to replace Bill Gates, and that isn't so easy.
The road to ruin for Microsoft was already under construction well before Bill Gates retired. It was Bill Gates' idea to try to build Vista around .NET, which lead to the "reset", the most demoralizing and costly misstep of Microsoft's history. Yes, the reset happened on Ballmer's watch but Bill Gates caused it. And Bill Gates hired Steve Ballmer. Lots of other major mistakes made by Bill Gates before and after retiring.
On the other hand, Microsoft so richly deserves the debilitating disease it now suffers from that I think you are right, they really need someone like just like Bill Gates to continue the fall after Ballmer goes.
Have you got your LWN subscription yet?
He got his brand new iLiver last year and is getting an iHeart now, one organ at a time, So why do people keep modding my Jobs/Vader comparisons down?!
sig loading.......
I don't totally disagree with you. Apple didn't invent many of the things they sell. They did however improve and market them as innovative. I mean that they are innovative in how they design their products. While companies like HP and IBM and others design things that are functional but boring Apple seems to make things functional and exciting. You can hate them if you like but what they do works well for them enabling them to claim premium prices while others have to settle for thin margins.
Not only he managed to get the vision of the computer has appliance, he also managed to make Pixar a household name when George Lucas didn't had any idea about what to do with the studio, made tablet computers interesting for consumers and revolutionized phone industry.
Mexico: 100% conservative's America now!
This is as good a place to respond as any.
Yes, part of it is that I genuinely didn't want the first post to be a troll saying, "Good, maybe this will finally doom Apple!"
But part of it is because both of my parents died of cancer. It was a hideous degenerative process that involved a lot of pain and anguish. As a result, whenever I hear of someone who has cancer, whether it's a really famous star or business mogul or a homeless person the street, friend, neighbor, or total stranger, my first thought is, "Oh wow, I hope they recover quickly, and if not, that they don't suffer a lot."
Also, it's basic empathy. I'm going to be undergoing surgery on Wednesday. It's nothing too terribly life-threatening, but it is on my spine, which always has an "oh my god!" risk factor associated with it of being paralyzed. Not ever having has so much as an incision or a stitch or a broken bone or anything, it's a little freaky. I run some gaming web sites that have a lot of visitors, and some of them know that I'm having the surgery. As a result, I've had random people wishing me well. And yeah, call it corny or silly or whatever, but I know it makes me feel better.
Now, I'm fairly certain that Steve Jobs will probably not see my post. Still, on the offhand chance that he does, or for other people who are having similar problems, who are you to say that it doesn't help them, knowing that random strangers out there care enough to post that?
I do agree, though, with one thing: There's definitely smugness and self-promotion going on. But in my opinion, it's coming from the "I don't have to be part of the social norm by displaying any empathy" trolls.
If you limit what you've said to the last ten years (which I think is reasonable for a company that innovates a lot apparently) you'd be left with only the ipad. Which is essentially just a gigantic size ipod touch...
Multiple personality disorder anyone?
Qu'on me donne six lignes écrites de la main du plus honnête homme, j'y trouverai de quoi le faire pendre.
Given all his health problems, Steve Jobs needs to retire and enjoy life a little.
The thing is: Steve Jobs, like many passionate technology entrepreneurs of his kind, probably enjoys life the most when he's working.
Tim Cook has been groomed for years, Steve has a first class team now - Jobs remembers his last mistake at Apple and won't repeat it. One thing Jobs is not, is stupid.
Somewhat off topic, but relevant:
I, unfortunately went to IT school in Seattle, WA, around 2000, (originally it was to be Vancouver B.C, such is the price of love at first sight - 5 years married) I was required (forced) to take Win 2k Server as part of a UNIX System Administration track. Ultimately it became useful, but more in a "backwards and in high-heels" way. Our Windows teacher was such a zealot that he equated stock price to superiority of OS platform, Apple was in the midst of rolling out OS X at this point and their stock was something like $11.00 a share, Microsoft was $33.00.
I was so poor at the time it wasn't funny, I told everyone "BUY APPLE" up and until 2003 or so, many of my more wealthy friends did. Some put their children through college with that tip (yes, me = SuperGenius).
I never would ever equate stock price with OS performance, and I often think back on my poor MS teacher and know what a hard lesson he learned.
Me? Lovin' the UNIX and the Plan 9.
New tip: buy electrical utilities and general infrastructure - long term.
~hylas