Steve Jobs Resigns as CEO of Apple

[MikeOKC]

A quite shocking announcement from Steve Jobs.

"I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple's CEO, I would be the first to let you know. Unfortunately, that day has come."
- Steve Jobs - August 24, 2011



http://www.msnbc.msn.com/id/44264089...s-us_business/

[jn1780]

Not that shocking really. His health has been declining this past year due to his pancreatic cancer. Any other person would have died by now.

[MikeOKC]

Not that shocking really. His health has been declining this past year due to his pancreatic cancer. Any other person would have died by now.

Shocking in the sense that nobody was expecting it anytime soon. In fact, the latest reports had his health as stable. But with any kind of cancer, things can change fast.

[adaniel]

Apple's stock is going to plummet tommorow. Steve Jobs is Apple.

The 2 or 3 people in America that were brazen enough to short their stock will probably be millionaires by this weekend, though.

[MustangGT]

Actually the insiders were NOT surprised and knew weeks ago. A college buddy in the hiearchchy knew 3 weeks ago but was contracturally prohibited from speaking until Jobs wnet public. Apple is so paranoind they monitor employees personal e-mails from home. How nasty feeling is that??? If you are on an Apple owned compter as an employee you are being watched. 24/7 creepy.

[MikeOKC]

Actually the insiders were NOT surprised and knew weeks ago. A college buddy in the hiearchchy knew 3 weeks ago but was contracturally prohibited from speaking until Jobs wnet public. Apple is so paranoind they monitor employees personal e-mails from home. How nasty feeling is that??? If you are on an Apple owned compter as an employee you are being watched. 24/7 creepy.

Insiders WERE surprised. I don't know who you consider "insiders" but the tech community at-large is surprised.
If you only consider insiders as leadership at Apple like your old college friend? Who knows, but they would only be the ultimate "insiders."

As for the Apple employees being monitored - that's simply not true. If you carry a pre-release piece of Apple hardware, you agree to monitoring. That's all.

[MikeOKC]

Apple's stock is going to plummet tommorow. Steve Jobs is Apple.

The 2 or 3 people in America that were brazen enough to short their stock will probably be millionaires by this weekend, though.

adaniel, It will be interesting to watch the market. Here's a good "instant analysis" including high marks for Tim Cook as replacement.

[Bunty]

Apple's stock is going to plummet tommorow. Steve Jobs is Apple.

The 2 or 3 people in America that were brazen enough to short their stock will probably be millionaires by this weekend, though.

I doubt it, since it's not that big of a surprise. More interesting will be to see how wildly Apple stock behaves after a new CEO is picked.

[MustangGT]

Agree with Bunty on the stock price.

[kevinpate]

I don't get the shock unless it refers to it happening on this specific week. His illness is what it is, has been for a while, and it's not like he is Peggy.

[bluedogok]

The "new" CEO has been the acting CEO during the previous medical leaves that Jobs had and this current one that he has been on since January. It isn't that big of a shock to anyone who has paid attention to his medical problems, a tumor removed from his pancreas in 2004 and complications from that in 2008, a six month leave in 2009 for a liver transplant and his current leave.

[MustangGT]

As for the Apple employees being monitored - that's simply not true. If you carry a pre-release piece of Apple hardware, you agree to monitoring. That's all.

OBVIOUSLY you are UNINFORMED about how the company coducts business. My SIL is a 20 plus year veteran and she tells me all I need to know about the company. She has credibility you ...

[MikeOKC]

I doubt it, since it's not that big of a surprise. More interesting will be to see how wildly Apple stock behaves after a new CEO is picked.

See the link in my other post about the "instant analysis" A new CEO has already been selected: it's Tim Cook, an investors favorite.

[bluedogok]

Apple has a huge employment base here and I know many who work or have worked there...the ones who have worked on the development side have said they are a pretty paranoid bunch, more so than some of the others in town. Those on the sales end didn't seem to think it was bad. So I really think it depends on what department you work in as to how much scrutiny you face.

[MikeOKC]

I don't get the shock unless it refers to it happening on this specific week. His illness is what it is, has been for a while, and it's not like he is Peggy.

I guess the "shock" is in that the day has actually arrived. Even though you knew it was eventually coming, it's still a shock.

[MikeOKC]

OBVIOUSLY you are UNINFORMED about how the company coducts business. My SIL is a 20 plus year veteran and she tells me all I need to know about the company. She has credibility you ...

Well, who am I to question MustangGT's SIL? Believe what you like. I know different.

[Lord Helmet]

Sad news but not unexpected. Apple has enough direction and stuff in the pipeline that they should be fine with Tim Cook for the next 5 years or so. I wonder where Apple will be in a decade though.

Silicon Valley is losing one of it's original and most influential visionaries. It's a sad day for those of us that grew up with computers. I cut my teeth on the Apple II and the C64. I think I'll watch The Pirates of Silicon Valley tonight...

[okc_bel_air]

Well, who am I to question MustangGT's SIL? Believe what you like. I know different.

I had to do a research paper on Apple and their business ethics. It is true that they are very secretive about what happens on the inside. And yes it is true that all Apple issued company hardware is monitored. I found a form that is given to all new employees that states what they can and can not say about the company. This includes using their personal equipment to do so. Let me try to find the thumb drive i saved it to.

[MikeOKC]

I had to do a research paper on Apple and their business ethics. It is true that they are very secretive about what happens on the inside. And yes it is true that all Apple issued company hardware is monitored. I found a form that is given to all new employees that states what they can and can not say about the company. This includes using their personal equipment to do so. Let me try to find the thumb drive i saved it to.

Please do. I helped found a large computer security organization and have dealt with Apple employees and their hardware without this being an issue - excepting, as I said earlier, all pre-release hardware. All of that is monitored and with employee knowledge.

There's no question Apple is a secretive company and they also know that it adds to the mystique.

[Just the facts]

Heard on the way home tonight that Apple stock is down 5% in after-hours trading. Apple will be fine though - Jobs wasn't the only innovative person working there.

[dmoor82]

Apple has more cash reserves than the United States of America does so any change in power will not matter much!Steve Jobs has done way more in the tech world than just being Apple's CEO!

[Questor]

I had to do a research paper on Apple and their business ethics. It is true that they are very secretive about what happens on the inside. And yes it is true that all Apple issued company hardware is monitored. I found a form that is given to all new employees that states what they can and can not say about the company. This includes using their personal equipment to do so. Let me try to find the thumb drive i saved it to.

Well, what you just said doesn't sound that different than what most big companies do. If you have a company laptop (pretty much any company), you have no expectation of privacy. On the other hand I don't know of any company that monitors employees' private, home emails from a personally-owned asset, that strikes me as illegal, but most companies do have something akin to a non-disclosure form or at the very least a company handbook that you have to sign that dictates what you can and can't say about a company publicly... so if something becomes big news or is found out by the company it can be big trouble. Many instances of folks getting fired for violations in the news. But that's not the same as having every personal communication monitored. Perhaps that is what you are thinking of?

[MustangGT]

Well, who am I to question MustangGT's SIL? Believe what you like. I know different.

I know who I believe. Hmmm others are validating the whole secrecy issue....

[Pete]

Apple stock price holding firm thus far.

I think most people have anticipated this for a while.


Best wishes to Steve Jobs, an American icon.

[Just the facts]

Apple has more cash reserves than the United States of America...

Big deal, anyone who doesn't have $14 trillion in debt has more cash reserves than the United States of America.