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Steve Jobs taking leave of absence due to health concerns

Discussion in 'BBS Hangout' started by Dr of Dunk, Jan 14, 2009.

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Dr of Dunk Clutch Crew

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For health reasons. They're saying until June maybe. This was on CNBC.

#1 Dr of Dunk, Jan 14, 2009

Fatty FatBastard Member

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Link?

#2 Fatty FatBastard, Jan 14, 2009
sw4real Contributing Member

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http://www.dailypress.com/business/sns-ap-apple-jobs,0,5685603.story

Apple CEO Steve Jobs takes medical leave, says health problems "more complex" than he thought

CUPERTINO, Calif. (AP) — Apple Inc.'s CEO Steve Jobs says he is taking a medical leave of absence until the end of June.

Jobs told employees in an e-mail that his health issues are more complex than he thought.

Last week, Jobs announced he had a hormone deficiency that had caused him to dramatically lose weight.

Apple's chief operating officer, Tim Cook, will take over Jobs' responsibilities while he is on leave.
Click to expand...

#3 sw4real, Jan 14, 2009
Dr of Dunk Clutch Crew

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Fatty FatBastard said:

Link?
Click to expand...

Couldn't find a Web link at the time - it was broken on CNBC. It's in their banner at CNBC.com at the moment.

#4 Dr of Dunk, Jan 14, 2009
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Time to short Apple.

Jobs was key Apple's ressurgence and the market will show a vote of no confidence. Expect it drop significantly after hours and early trading.

#5 ghettocheeze, Jan 14, 2009
Dr of Dunk Clutch Crew

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ghettocheeze said:

Time to short Apple.

Jobs was key Apple's ressurgence and the market will show a vote of no confidence. Expect it drop significantly after hours and early trading.
Click to expand...

You won't be able to short it for another 6 minutes... it was halted in afterhours trading. They're saying it could tank to $75 when it starts trading again.

#6 Dr of Dunk, Jan 14, 2009
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ghettocheeze said:

Time to short Apple.

Jobs was key Apple's ressurgence and the market will show a vote of no confidence. Expect it drop significantly after hours and early trading.
Click to expand...

Empathetic, nice.

He has a funky type of an incredibly deadly cancer, this does not sound good. It would be great to see him back and healthy at some point, he is a very consequential - and to my mind, highly visionary - creator and CEO.

For my sake, i hope he gets better as I am a huge Apple guy. For him and his family and friends, I wish him personally the best. Brutal news.

#7 CBrownFanClub, Jan 14, 2009

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Text of Steve Jobs’s Letter to Apple Employees

http://bits.blogs.nytimes.com/2009/01/14/text-of-jobss-letter-to-apple-employees/

Team,

I am sure all of you saw my letter last week sharing something very personal with the Apple community. Unfortunately, the curiosity over my personal health continues to be a distraction not only for me and my family, but everyone else at Apple as well. In addition, during the past week I have learned that my health-related issues are more complex than I originally thought.

In order to take myself out of the limelight and focus on my health, and to allow everyone at Apple to focus on delivering extraordinary products, I have decided to take a medical leave of absence until the end of June.

I have asked Tim Cook to be responsible for Apple’s day to day operations, and I know he and the rest of the executive management team will do a great job. As CEO, I plan to remain involved in major strategic decisions while I am out. Our board of directors fully supports this plan.

I look forward to seeing all of you this summer.

Steve
Click to expand...

#8 sw4real, Jan 14, 2009
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CBrownFanClub said:

Empathetic, nice.

He has a funky type of an incredibly deadly cancer, this does not sound good. It would be great to see him back and healthy at some point, he is a very consequential - and to my mind, highly visionary - creator and CEO.

For my sake, i hope he gets better as I am a huge Apple guy. For him and his family and friends, I wish him personally the best. Brutal news.
Click to expand...

BTW and i took the Mac leap last week with a new MBA and love it but I really don't think Jobs is the messiah some apple fanatics make him to be. He was an innovative smart leader who brought back the company from its deathbed. However, Apple is now mainstream with ipods and iphones and need to keep innovating with new ideas for products and improve on existing platforms. Jobs will be severely missed but Apple will still follow his sense of style and personal touch on all products.

#9 ghettocheeze, Jan 14, 2009
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Actually, he's still CEO, he's just taking a medical leave of absence. Semantics, but the title is somewhat misleading... at least for now.

As for shorting them, and expecting it to tank to $75, I would expect it will be more like $60 by the end of tomorrow. Silly, in my opinion, but a sign of the times. People are going to freak out.

A sad time for him and his family.

#10 CrazyDave, Jan 14, 2009
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He hasn't stepped down for sure yet, just taking a leave for now.

#11 Omer, Jan 14, 2009
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Omer & CrazyDave,

You guys are right. Originally it was reported as a "step down" until June, but I'm changing the title since it's a "leave of absence".

#12 Dr of Dunk, Jan 14, 2009
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AAPL fell to ~ $79 after hours. It's a good buy at $79, and a great buy at $70. Consensus estimates have this stock around $100-$110.

#13 Baqui99, Jan 14, 2009

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Bye bye Apple stock.

I remember Cracked doing a list about this a few months back.

#14 Lil Pun, Jan 14, 2009
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So whose buying AAPL tomorrow?

#15 s land balla, Jan 14, 2009
Pizza_Da_Hut I put on pants for this?

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Best wishes, I hope he recovers soon and he just needed a vacation or something.

#16 Pizza_Da_Hut, Jan 14, 2009
kaleidosky Your Tweety Bird dance just cost us a run

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sLaNd B a L L a said:

So whose buying AAPL tomorrow?
Click to expand...

or who's gonna try and short in the morning?

#17 kaleidosky, Jan 14, 2009
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An Apple a day apparently does not keep the Doctor away.

#18 oomp, Jan 14, 2009

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I thought the "hormone imbalance" statement was sketchy at best.

I hope he recovers.

#19 emjohn, Jan 14, 2009
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Doesn't he have some form of pancreatic cancer though? Which is lethal like 99.9999% of the time?

#20 Rule0001, Jan 14, 2009

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