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Posts Tagged ‘disclosure’

Media, Street traders and litigators feign outrage over Apple’s failure to Tweet daily on Steve Jobs’ health

It was revealed on Friday that Steve Jobs had a liver transplant back in March. After a several months of recuperation, Steve Jobs will soon return to work at Apple. Story over, move on! Steve is … and so are Apple (AAPL) shareholders.

sjobsAlas, no … the sanctimonious financial media, once again, trotted out their legal beagles to weigh in on “ethics” and “disclosure responsibility” of Apple Inc. surrounding Steve Jobs’ health status. Never mind that Apple went to great lengths in January to explain that new tests revealed that Steve Jobs’ hormonal imbalance (causing his weight loss) was more complex than first thought … and that based on this new medical information, Steve would need to take a 6-month leave of absence. Okay … we all know about Steve’s past Whipple procedure and islet cell neuroendocrine tumor treatment. Given the new revelations in January, and Steve’s need to take a leave, AAPL shareholders understood that Jobs’ condition was not trivial. Clear message sent. AAPL shareholders understood that this was a serious situation that needed Steve’s focus and full attention from his medical team.

Apple COO, Tim Cook

Apple COO, Tim Cook

As an Apple (APPL) shareholder, I can say “we get it,” and we respect Steve’s right to privacy during this leave of absence. The only ones freaking out are the pretenders. Serious AAPL investors are very comfortable with Tim Cook and the rest of Apple’s deep bench (Peter Oppenheimer, Jonny Ive, Phil Shiller, Ron Johnson, Scott Forstall, Bob Mansfield, Mark Papermaster, Dan Cooperman, Bernard Serlet, Sina Tamaddon, et. al.). Moreover, select members of Apple’s Board have been consulting with Steve’s doctors and closely monitoring Jobs’ health status. Finally, whether Steve Jobs moves to a less than full-time role (e.g. moving to Chairman with Cook as CEO) or not, Jobs’ DNA is deeply embedded in the company and Apple’s product menu is well defined for years to come.

To the “slimebucket” posers that continue to scream over inadequate disclosure (daily Tweets from Steve Jobs’ doctors would not be enough due to 140 character limit), I say you are not speaking for AAPL shareholders (certainly not this shareholder). You are, in fact, doing the dirty work for Wall Street’s “shoot first” traders, and “sue always” lawyers.

Here’s my favorite quote of the day courtesy of kylobbist over on AAPL Sanity

“So let me get this straight … The Masters of the Universe on Wall Street, along with the executives and boards of the major banks and investment firms basically were running a big ponzi scheme among themselves and screwed the markets, the economy and their customers, which required a massive and unprecedented infusion of taxpayer dollars to save their hides along the way … but we are supposed to be outraged at the “ethics” and “immorality” of whether and how Steve Jobs got a liver transplant??? … Yeah, whatever”

Video: Steve Jobs’ Stanford Commencement Address 2005 – Steve talks movingly about life’s journey


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