Shareholders might sue over sick Jobs

The financial mission of any corporation is to grow the company, increase profits, and enhance stockholder worth. Fanboy satisfaction is not mentioned.

Looks like Apple has ruffled the feathers of a few adults and they know how to get blood out of a turnip ... uh...apple.

... the *original intention* behind public share offerings was to provide the shareholders with a *dividend* on those shares. Shareholders at the time would therefore tend to be people with an interest in the business' core market(s) and an understanding of what the business is actually doing.

The modern treatment of shares as simply another form of currency is a more recent phenomenon, brought on by the improvements in high-speed communications during the 20th Century. Unfortunately, it also means short-termist thinking is now dominant. If your company isn't constantly being fattened like a turkey, you're out on your ear. Never mind that constant growth isn't always the best thing for the business!

This shares-as-money approach to finance is also, incidentally, part of the reason why taxpayers have just had to fork over billions of dollars, pounds and euros to keep such over-fat companies going. ("Oh no! This bank / car manufacturer / insurance company is too big to be allowed to go bust!")

As it stands, the public shareholding systems in most western economies amount to little more than a high-interest loan with lots of strings attached and infinite loan repayments. It's a Bloody Stupid Johnson of a system.

Firstly, I'm not Apple fanboy. Secondly, why does Steve Jobs getting seriously ill have to do with the value of the stock at all. This is just further proof the the US stock market is a bunch of BS and needs to be fundamentally overhauled. If the the value of any company revolves around a single ageing man, then I would consider its stock WORTHLESS. How 'bout valuing a company at its current product offerings and profitability....like the market used to work until this daytrader quickbuck BS started. Daytrading should be ILLEGAL. Being that the US economy is based off of the markets alone now, no more Vegas syle gambling table. AND cut the hands off of the thieves that get cought up there on Wall Street. That will stablize the market.

@Dustin: Granted there has been a lot of turmoil in the global stock markets....but please do not base the ENTIRE US stock market on Apple. It is due to the fact that many believe that the success at Apple is directly contributed to Steve Jobs. If he is sick and potentially not going to return, despite saying he will, that is a major blow to the shareholders. If my memory serves me correctly, Apply tanked hard and was a lackluster company when Jobs left the first time. When he came back he transformed it into what it is today. That is what the shareholders fear will happen again and thus is reflected in the downward movement in the stock. Just like revising your earnings downward will make a stock drop....the same principle applies here. If Jobs leave, the company may change drastically and loose its appeal. If Apple goes down the drain so will its revenue etc. Thus, the stock is pricing in the risk that jobs might leave. Should he leave it will drop even more. However, should he magically recover and become healthy again, the stock will shoot up.

Another thing to remember is that there are people betting on both sides. I am sure there were a few people who made a killing shorting Apple stock when they announced he would take a 6 month medical leave. Sounds sad that people would put money down that he is going to get ill...but that is what makes the markets work. Without someone willing to take the opposite of what you are betting (when you buy or sell) there would be no market. Every time you buy a share...there is someone selling it who thinks the stock is going to do worse.

Anyways, just my two cents :)

Good luck and godspeed!

You are going to sue someone for getting sick?

What a bunch of morons.
Why invest in a company that you believe hinges on the fate of one man anyway?

If Steve is really sick and Apple is affected then the company didn't deserve its success. They ought to change the ticker symbol to JOBS. I like Apple products, but I hate everything else about them, including the media surrounding them.