back to article Steve Jobs takes 'medical leave of absence' from Apple

Apple CEO Steve Jobs told staff at the company today that he was taking a "medical leave of absence". He did not reveal specifics about why he had been given time off from the Mac and iPhone maker. "At my request, the board of directors has granted me a medical leave of absence so I can focus on my health. I will continue as …

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Stop

Maybe his stand-in...

.. could finally authorise a dividend. Apple isn't a start-up, it's a hugely successful mega-corp. Not paying divvies is taking the piss out of the shareholders.

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Jobs Horns

RE: Maybe his stand-in...

You never know when you might need something that costs 40 Billion.

I hear black market livers can cost quite a bit.

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FAIL

Glad to see...

the milk of human kindness still flows... someone is ill and you are thinking about money and shares.

Nice, real nice.

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Happy

Who cares that they don't pay a dividend?

As a shareholder with a solid five figures invested in Apple I can say categorically there is no piss taking going on, the returns in share price in the last few years have been stunning. When you buy the shares you know that no dividend will be forthcoming. As far as I am concerned, may the status quo continue, I'm loving the capital gain (the tax on which is easier to plan for in any case).

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Pirate

Why should I care for him

Considering Steve Jobs' main goal in life has been being a narcissistic money-grabber who really seems to have enjoyed being bitchy towards others I fail to understand why should I be crying for him? It seems Apple fanbois can't understand the concept that Jobs is not universally seen as a deity who's come to save us and deliver us redemption in the form of... an iPod?

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Bronze badge
Grenade

dividends kill

Dividends should be made illegal, as a lot of companies prefer to pay dividends than reward employees or increase the workforce.

I remember working for a company where all our privileges were cut and bonuses not paid out, we even ended up not getting our xmas prez despite hard work and even growing during and after the 2000 bubble burst. The company paid large dividends to the shareholders, we got nothing. That is why I left ... and it is the last time I will work for a publicly traded business.

Paying out dividends is evil!

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@Anonymous Coward (Glad to see.) Correct, it's just basic human empathy.

Jobs isn't one of my favorite people by a long shot but I wouldn't wish what he has on anyone, even enemies.

In the circumstances, it's just basic human empathy for someone who's ill (and pancreatic cancer is about as bad as the C-word gets).

There's precious little empathy in the world as it is.

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Unhappy

@kode -- Job's Apple connection should have nothing to do with it.

@kode -- Job's Apple connection should have nothing to do with it.

As I said to A. Coward's post, it's just having a little human empathy for a fellow human who's suffering. Even soldiers in the much more dire circumstances of a battlefield often show considerable compassion for wounded enemy. It's just common human decency.

Remember, there but for the grace of fortune go I.

I'd think twice before associating with you 'thumbs-up' blokes.

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This post has been deleted by a moderator

Flame

heh...

I should tell you about my lovely company...

In 2008, thanks to the crisis, no pay raise was issued.

Some project leaders even lost their bonuses.

On the other hand, the dividend this year was around 1ME.

more than 1.2KE per worker.

Paid to the 3 shareholders.

The CEO and his associates.

NOT publicly traded business are not really better you know.

Anonymous coward... cause that's what I am (or else I'ld quit this place at once!)

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Pirate

Time to short those stocks, boys.

Erm, does anyone know how I do that?

GJC

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Anonymous Coward

Erm

If I remember rightly, you have to borrow some money you couldn't ever afford to pay, back from some idiot^h^h^h^h bank willing to lend it. Buy a huge amount of stock with it, watch the stock price rise then sell it again at the higher price to another idiot^h^h^h^hinvestor, pay back the bank and pocket the profit without ever having had the cash in the first place, or indeed having bought anything or sold anything tangible.

Or something like that.

Nothing dodgy about it at all as far as I can see*.

*Yes there is.

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It's too late now

This was announced early morning New York time, and the shares will most likely open down on last night. Perhaps they already have, but it isn't showing on my time delayed Yahoo Finance feed yet.

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Unlikely to

It's a holiday in the US. No trading.

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FAIL

Congrats

...for describing the opposite of Short Selling.

p.s It's a Market holiday in the US - MLK's Birthday (I bet you didn't even get him a present).

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Re: Erm

You find someone who has Apple shares, such as a tracker fund; borrow some shares off them; sell the borrowed shares to some other person; buy the shares back hopefully at a lower price and give them back to the person you borrowed them from.

The risk is that it ends up like another Volkswagen where someone ends up owning >100% of the company, and the general lack of available shares and short sellers being forced to buy them urgently causes the price to shoot up into orbit.

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Ale

Re: It's too late now

Because it's a federal holiday in the states, and the NYSE is shut. That's probably why they announced it today.

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short selling

Shorting stock is when you borrow stock from someone, and then sell it (even though it's not yours to sell) in the expectation that you'll be able to buy replacement stock more cheaply (i.e. the price will fall) before you have to give back the stock you borrowed.

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Anonymous Coward

@Michael M

Many thanks for the correction. Either way it is all smoke and mirrors and not a reputable way to make a living out of someone else's misfortune IMHO.

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Happy

Alternatively....

You could just buy a some 350 put options....

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Boffin

Ah, easy as that, eh?

Perhaps I'll just stick to watching my BP shares rise....

GJC

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Welcome

Naked short selling is even more fun

You sell shares that you haven't even borrowed on the hope that you will be able to buy them in a lower price before you have hand them over.

Paying dividends is the best way to honour investor loyalty.

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Short selling

Other way around I think.

You borrow shares for a fee, sell them, buy the same quantity back in a month or whatever when the price has dropped, and give tham back with a small margin to the original owner.

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nudie-shorts

oh, its better then that! you forgot what happens when they CAN'T buy them at the lower price (or at all)... wait for it.... NOTHING! ABSOLUTELY NOTHING! YOU"RE SO STUPID!!! (sorry, movie flash back there). But yes, the person who bought then in good faith is just out the money and has nothing. It's called a "Fail to deliver" and the buyer is left holding.... nothing.

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Headmaster

Actually....

that's the opposite of shorting.

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Yag

It's the opposite...

Short selling shares means selling shares you don't have...

So...

you have to borrow some shares you don't have, back from some idiot^h^h^h^h bank willing to lend them. Sell this huge amount of shares, watch the stock price fall then buy it again at the lower price from another sheep^h^h^hidiot^h^h^h^hinvestor, give back the shares and pocket the profit without ever having had the shares in the first place, or indeed having bought anything or sold anything tangible.

Or something like that.

Nothing dodgy about it at all as far as I can see*.

*Yes there is.

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Joke

Steve Jobs takes 'medical leave of absence' from Apple

Steve Jobs takes 'medical leave of absence' from Apple.

so he's nipping to the doc's then back to the office by way AMD and having a chat about stepping into Dirk Meyer's chair :S

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Boffin

His battery-

Is not user replaceable.

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Coat

re: His battery-

neither was his liver!

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Hmmm

Maybe he was holding it incorrectly!

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Alert

shouldn't really be news

I suppose it shouldn't really be news, and wouldn't be BBC-front-page news in most companies, but there is something of a cult of personality about tech company CEOs - and Apple's in particular.

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It is news...

It would be front page technology news. There aren't many CEOs in tech who are more visible and influential as Steve Jobs. And it was the lead story only on the BBC's technology section, if its prominence offends you.

It would also be front-page business news. A highly successful company's CEO announces medical leave out of the blue, when there's no obvious succession. That's news if you hold the stock.

General news? Maybe not, but Jobs is something of a celebrity himself, the last of the whizz-kids now that Bill G has retired. (... and I know Woz was the wizard, but Steve could SELL).

Apple really is the closest thing the tech industry has to a fashion house - a major commercial empire led and directed by one person's ideas. And I don't mean "fashion house" in any derogatory sense. Without him, the company would not have that obsessive pursuit of a single big idea that makes it successful.

Whatever news it is, I wish him a quick recovery.

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Grenade

In bad taste? Oh well...

"Is Steve dead yet?" There's an app for that.

Oh yes, bad taste.

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Joke

Jobs

I think he's like Castro or Jong-il; he's actually been dead for ages, but they don't want to cause a fuss with the news.

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Jobs Horns

Is he suffering from...

...Advanced Distortion Reality?

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Alert

Noises off.

That "Heinkel III after a thorough riddling from eight .303 Brownings" noise you hear in the background is Apple's stock price starting its death spiral.......

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Pirate

Good timing

He does this on a day when US stock markets are closed for a holiday.

Blood bath starts tomorrow.

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Unhappy

I wonder

When St. Steve finally shuffles off this mortal coil will we see the same appallingly self-indulgent wailing and chest beating from millions who really have no connection to the man whatsoever that we saw after Princess Di's death? I rather fear we will.

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SJ

Regardless of your choices for computers, smart phones and etc., Steve Jobs HAS been a major, major force in the industry. Although I'm personally not an Apple fan (1st home computer was an Apple btw), I recognize his brilliance and business acumen. We need people like Steve Jobs for a whole host of reasons; I hope his influence continues far into the future.

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I agree

...and coincidentally my first computer was also a Mac. There's no denying Steve Jobs has made significant contributions to the consumer computer market and I respect him immensely for that. But this is just an offhand observation -- it seems like the past couple of times he has taken time off for medical issues (2004 and 2009) each time he comes back, it's with more of an anti-consumer attitude. I don't recall Apple being such a walled-garden environment, embracing DRM and restricting its users, until the past few years.

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That's because...

Woz was the one who favored open and unrestricted computing. Jobs wanted to control the whole experience, make it exactly how he thought it should work and hide anything that might resemble user control. Woz is long since gone, so look who ended up getting their way...

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Get well soon

His products may be crap, but one has nothing to do with the other. Hope he gets well soon. Regardless of whether you think it was good or bad, he's been a big influence on the industry.

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Joke

But I thought that "An apple a day..."

Sorry, too easy.

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Fingers crossed

I hope it's not a resurgence of the cancer that he had before. Whatever you think of Apple, Apple's products or Jobs' himself, I truly wouldn't wish that on anyone.

Not even the person who came up with the Go Compare adverts.

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Coat

titular murmur

I'd wish it upon those that came up with webuyanycar (dotcom), though!

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LPF

Get well soon

Seriously guys, its probally a recurrance of his cancer, I mean for gods sake, hate his products if you will, but at least try to remind yourselves, your members of the human race once in a while!

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Re: Get well soon

Well said. I'm a rabid Apple hater, but even I wouldn't wish ill-health on Steve. I hope he makes a speedy recovery.

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Grenade

@In bad taste? Oh well...

When Rolls-Royce started the RR logo was in red but when Royce (or was it Rolls) died they changed it to black as a mark of respect ..... so maybe this explains the abscence of the white iPhone4.

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Go

For the guy mainly responsible for

The Apple Mac, at a time when you were fighting DOS commands on a heavyweight IBM keyboard.

Keeping Pixar going.

The iPod and its way that even my technophobic girlfriend at the managed to use it.

The iPhone and introducing the general population to usable (however available) smartphones.

The App Store and all its benefits for users and developers alike.

The iPad for letting us know that sometimes technology can be 'magical'

Love him or Hate him, you cant deny he has delivered massive advances in the way average people use technology.

get well Steve

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