As businesses assessed the damage and began digging out, the picture wasn't as gloomy as they might have feared - WSJ, on the tsunami that killed thousands
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Apple won’t reveal plans for life after Steve Jobs
SHINY TOY MAKER Apple is being pressured to reveal what it's going to do when CEO Steve Jobs finally packs away his turtleneck and blue jeans.
A shareholder proposal that Apple reveal a succession plan received support from Institutional Shareholder Services, an influential advisory firm. ISS believes Apple shareholders should not be kept in the dark, and should be provided with an annual report on the firm's succession plans.
It's a tricky issue for the company, with Jobs having to step away from the leadership last month due to undisclosed health problems. The Apple board of directors claims it already has a succession plan in place, but does not want to disclose anything publicly, believing competitors could take advantage.
ISS has supported similar CEO succession proposals involving companies like HP, American Express and Verizon, which were then adopted. Apple shareholders will vote on the CEO succession plan question on 23 February.
At the moment, Apple COO Tim Cook is running the company day-to-day, and he is probably the most likely candidate for the role. But it could be argued that you don't identify him with the Apple brand in the same way as Jobs.
Apple has to face up to a possible future without its charismatic leader. With Google streamlining and moving Larry Page into the CEO role, Apple needs someone to step up to the plate. µ
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I predict .. with absolute certainty ... drum roll .... <staged ....
That the shares will go down Tada! BUT
The shares will also go up <gasp !
A cult of personality is like a house of cards; it takes very little for it to come toppling down. One of the reasons why people love Apple products so much is because their "great" leader has a habit of packaging existing ideas in a more friendly and professional-looking way. As a result, he is generally perceived favourably by the average person. It's precisely for this reason that his successor will be blamed any time Apple fails to put out another million-selling product - because he's NOT Steve Jobs. Life will be tough for whoever succeeds him; the shoes he'd need to fill are comically large clown-sized ones. Hell, he might end up being the Ballmer of the company.
...your secret methamphetamine stash again when you wrote: "Apple has to face up to a possible future without its charismatic leader." Let's get one thing straight. While Steve 'the son of Satan' Jobs is a master at sucking in the mindless iDiots into his cult of overpriced shiny toys, he is not now and never has been the least bit charismatic. How he has been able to mesmerize his cult of dimwitted lemmings, ala the Rev. Jim Jones of Kool-Aid fame, is a complete mystery...but he ain't in the least bit charismatic. Have you ever watched any of his product introductions? It boggles the mind that anyone would buy any aPple device after watching his same old boring deadpan schtick.
Now drink your Kool-Aid, iKiddies, this round is on me.
And before I forget...here's another vote for Nick Farrell.
I second that one Phil, Nick Farrell for the gig!
if they reveal their plans, the guy could by poached and the shares could tank as investors assume Job is on his way out or new guy isnt liked.
if they don't reveal their plans, the shares could take as nobody (and especially not investors) like uncertainties.
I propose Nick Farrell for the job..
I pretty much heard that at 100, then 150, then 175, then 200, and now at over 300 I keep hearing the stock is going to fall. Falling upward is a good thing too I guess!
This is the beginnings of the share price drop..... investors do not like uncertainty