Passing of Steve Jobs

Do What You Love

At the tender of age of 56, Steve P. Jobs, co-founder and chairman of Apple Inc., “died peacefully [yesterday] surrounded by his family.”  He had been battling pancreatic cancer for a while but was also in remission for some years after having gotten a liver transplant.  Then he got sick again and last night finally passed away.

Jobs fought the illness and continued in his position, but six weeks ago, he resigned as Apple’s CEO and suggested that Tim Cook – his long-time deputy – should take over from him.  Cook was then named Chairman of the company.

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It was over 35 years ago that Steve Jobs founded his company along with Steve Wozniak in 1976.  At the time, Jobs was 21 and Wozniak, 26.  They began work in Jobs’ family garage and sold their first computer for $666.66.  He always told people to “do what you love” as a way of being successful.  It certainly worked for him.

Today his company is best known for consistent quality, the iPod, iPad and iPhone.  He leaves a widow, Laurene Powell Jobs, and three children: Reed, Erin and Eve.  May he rest in peace.

Apple’s Jobs Taking Health Leave of Absence

Steve Jobs will be taking a leave of absence from his responsibilities as CEO of Apple, the computer giant, in order to focus more time on his health. Monday’s announcement comes as a surprise to many, but especially to investors in Apple, as Alexander Peterc, an equity analyst at Exane explained.

“It wasn’t expected. This will come as a surprise to Apple investors and definitely take some shine off the Apple stock.”

It is almost exactly two years since Steve Jobs’ announcement that he was taking a 6 month break in order to have a liver transplant.

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Daniel Ernst, analyst for Hudson Square Research speculated that “This time around you have to question his ability to bounce back.”

Jobs himself said in an email to Apple employees: “I have great confidence that Tim (Cook, COO of Apple) and the rest of the executive management team will do a terrific job executing the exciting plans we have in place for 2011. I love Apple so much and hope to be back as soon as I can,” Jobs wrote.