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RUMOR: Steve Jobs will take leave of absence from Apple Computer
Friday, January 05, 2007 - 11:44 AM EDT

In a list of rumors he's picked up from trading desks and other industry sources this morning, TheStreet.com's Doug Kass drops this thermonuclear bombshell:

"Apple will announce that Steve Jobs will be taking a leave of absence from the company."

That's it. No other information is included. One might speculate that, if it were to occur, such a leave of absence might be due to the stock options imbroglio, a health issue (we hope not!), new venture (?), or some other unknown reason.

Doug Kass is founder and president of Seabreeze Partners Management, Inc., and the general partner and investment manager of Seabreeze Partners Short LP and Seabreeze Partners Short Offshore Fund, Ltd. Until 1996, he was senior portfolio manager at Omega Advisors, a $4 billion investment partnership. Before that he was executive senior vice president and director of institutional equities of First Albany Corporation and JW Charles/CSG. He also was a General Partner of Glickenhaus & Co., and held various positions with Putnam Management and Kidder, Peabody. Kass received his bachelor's from Alfred University, and received a master's of business administration in finance from the University of Pennsylvania's Wharton School in 1972. He co-authored "Citibank: The Ralph Nader Report" with Nader and the Center for the Study of Responsive Law and currently serves as a guest host on CNBC's "Squawk Box."

Full article here.

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Jan 05, 07 - 12:47 pm Comment from: Kwamster

Uhm...don't think so. Someone just wants lots of hits.

Jan 05, 07 - 12:47 pm Comment from: Greg M

Well would this be due to his health (remember how he looked last year) or because he got his hands caught in the cookie jar?

Jan 05, 07 - 12:48 pm Comment from: MadMac

Let me be the first to call Bullsh*t. Just a rumor spread by a short seller to lock up some gains.

Jan 05, 07 - 12:52 pm Comment from: concerned apple fanatic

But not before the SteveNote!

Jan 05, 07 - 12:55 pm Comment from: mac1984

Worrisome. Let's analyze for a second. Why would he?

1) Health, god forbid. We can't know that. 2) Then, options thing? Unlikely, after the absolution the board has given him. Unless new issues have appeared, again god forbid. 3) His own reasons, like a new venture, a break, Pixar? Also unlikely. He doesn't take breaks. He's doing fine with Pixar. Though the options thingy may have worn him down and may offer an excuse to clear the air and temporarily recuse himself from operations.

Overall, unlikely. But we can't really know.

Jan 05, 07 - 12:57 pm Comment from: pieterdebecker

As long as he's back for the next keynote, it is ok by me! grin

Jan 05, 07 - 12:57 pm Comment from: ??????????????

Sell, sell, sell.

Or not.

Jan 05, 07 - 12:57 pm Comment from: Zorrin

No way in hell.

Jan 05, 07 - 12:57 pm Comment from: Jim - the independent voter

Just another pre-keynote attempt to get hits on a website or make the stock plunge to be able to sell short. Happens every year...

Jan 05, 07 - 12:57 pm Comment from: Paul

l wouldn`t think so... apple is his life... Apple needs him, who would do the keynotes nextweek then? Maybe after the next keynote he might state he is leaving for awhile...
best wishes steve will miss you. come back soon.

Jan 05, 07 - 12:58 pm Comment from: sd

Maybe someone is a little upset that they missed the stock buying opportunity last week and want to artifically lower the price again leading into the keynote? Silly yes, but crazier things have happened.

Jan 05, 07 - 12:58 pm Comment from: Paul

Just found out his moving to microsoft

Jan 05, 07 - 01:03 pm Comment from: Newmanstein

Well, this guy got the attention he wanted along with his stock manuever and the under the table monetary incentive from M$.
Steve, if he wanted, could just do the keynotes, etc. every year and leave the rest to the upper tight-knit circle. He would never announce that he was taking a leave of absence at the prime time of his company's growth with no peak in sight. Yeah, right. But the bozos will still sell their shares and make those with a brain buy even more and cheaper. We should thank this guy instead.

Jan 05, 07 - 01:05 pm Comment from: Quevar

He has been giving more and more time to other high-ups at Apple over the last couple major presentations....possibly priming them for taking over the stage.

See how he is a very smart person with good business sense, he knows that if Apple is going to continue as it has been in the last 10 years, someone else is eventually going to take over. A short leave of absense is a good way to let them test the waters, while knowing that he is coming back to check on you and see how things are going. Better that way than completely unexpectedly and with people who are not prepared.

Jan 05, 07 - 01:05 pm Comment from: Rob

> Just found out his moving to microsoft

and Ballmers moving to Apple.

Jan 05, 07 - 01:07 pm Comment from: r_y_a_n

mac1984,

Steve sold Pixar to Disney and he now holds the most Disney stock of any single person, but no longer owns Pixar

Jan 05, 07 - 01:09 pm Comment from: James

This doesn't make any sense. Steve has been quoted as saying that 2007 will be the most exciting year for new products in Apple's history. Why would he choose now to leave?

Jan 05, 07 - 01:10 pm Comment from: Matt

No way in Hell! He was just quoted as calling 2007 the most exciting product years in Apple History. Why would he leave now???

http://macdailynews.com/index.php/weblog/comments/12133/

Jan 05, 07 - 01:11 pm Comment from: Matt

Damn U James! 1 minute! U Suck!

Jan 05, 07 - 01:11 pm Comment from: tolkein

imagine if you will...amidst the usual idol-worshipping keynote frenzy, Steve (Bilbo) thanks everyone for coming, recognizes Apple's 30th birthday, then slips on the iPod of Power and vanishes from the stage...

Jan 05, 07 - 01:12 pm Comment from: Thought Process

....And he also has a brother named Jack.

Jan 05, 07 - 01:16 pm Comment from: Thought Process

"imagine if you will...amidst the usual idol-worshipping keynote frenzy, Steve (Bilbo) thanks everyone for coming, recognizes Apple's 30th birthday, then slips on the iPod of Power and vanishes from the stage..."

That won't happen until the eleventy-first aniversary.

Jan 05, 07 - 01:16 pm Comment from: Paul

Ok here it is fresh from the farm... apple buying microsoft... no wait microsoft buying apple... Nah bill gates leaving microsoft to join apple.

Jan 05, 07 - 01:21 pm Comment from: lurker

Read Kass's bio. His history is in short selling stocks. That is a scheme in which the short seller makes money when the price of a stock drops. So he starts a rumor that Jobs will be gone from Apple. How smarmy is that? This deserves zero credibility.

Jan 05, 07 - 01:22 pm Comment from: Oops

Steve did NOT get caught with "his hand in the cookie jar". The backdating of options is perfectly legal. It's the not reporting of them that is the problem. This is all a tempest in a teapot. Steve's been exonaerated for cryin' out loud. He's not leaving.

Jan 05, 07 - 01:27 pm Comment from: Big Al

They left out the second sentence.

"He's going to replace Ballmer at Microsoft, sell off the company piece by piece and give the money back to the shareholders."

He should be back at Apple by early March.

Jan 05, 07 - 01:30 pm Comment from: Shogun

I would believe it. Steve isn't the regular CEO. He's more like a priest, bishop, Cardinal or Pope. And they take sabbaticals every seven years or so for 3 to 6 months. Professors, too. I say "likely".

Jan 05, 07 - 01:35 pm Comment from: critic

"Uhm...don't think so. Someone just wants lots of hits."

More like someone has a very large short position on the stock.

Doug Kass runs a hedge fund that only invests in short positions. That means they only make money when a stock goes DOWN.

Jan 05, 07 - 01:36 pm Comment from: italian guy

R I D I C O L O U S...!!!

This Doug Kass as biography was stating is just another bilionaire manager: the ones that jumps from a company to the next one multilplying their incomes and...stock options! The ones that in the last 10 years has multiply the distance from managers and employers of 10.000 %.
This guys are the real danger for USA and for the whole world, these guys should be sent to a hard work camp for a couple of years!! Then should be sent back to a pubbliuc school in same dangerous district.
I'd love to see them facing the bad boys...maybe on YouTube!!!

IT IS TIME FOR ALL OF US TO STOP THIS RIDERS, BEFORE THEY'LL MAKE OUR FINANCES AND ECONOMY CRASH!!!!

Please MDN, stop pubblishing this guys opinions...you're helping them...

Jan 05, 07 - 01:37 pm Comment from: wish it were so

Told you so.

Only question is whether his 'recess' begins before or after next week's Keynote.

My money is Steve is a NO SHOW.

Jan 05, 07 - 01:49 pm Comment from: Unsquirted

It's true.

Steve's LOA begins today at 5 pm PST and ends Monday morning.

Jan 05, 07 - 01:53 pm Comment from: Realist

LOA? Sure, why not? It'd be a good cover for a plea bargain arranged 6-month stint at some federal low security "farm" for white collar workers. Martha survived it. Why not the Jobso? After all, he's survived probably the worst type of cancer there is. He's Batman.

Jan 05, 07 - 01:55 pm Comment from: π

I think this is a test to see what effect such a rumor has on the stock price. This is from The Street, after all.

Jan 05, 07 - 01:57 pm Comment from: thekilldare

Unsquirted!

HAHAhAHAHHA! yes. rememeber when he sold pixar to disney. he said then that he had no plans of being an active member of disney's board, and that selling pixar would mean he has even MORE time to devote to apple. no effing way hes leaving.

Jan 05, 07 - 02:07 pm Comment from: Davey

Oh yeah, Steve needs a leave of absences so he can enter the 2008 presidential campaign. After that he'll replace congress with the iPod team and Cupertino will become the new U.S. capital.

Jan 05, 07 - 02:08 pm Comment from: ZachCube....In Other News-

In other news a huge asteroid will smash into Earth sometime within the next 5 billion years. And even more SHOCKING Kid Rock breaks up with Pam Anderson!

Jan 05, 07 - 02:09 pm Comment from: Rumors?

Here's a better one:

The Street is demanding a phone from Steve. Word is all over the place at Cupertino that it WILL be introduced on Tuesday BUT it's not ready.

Another example of Wall Street driving decisions and this time, it is resulting in a phone that is (1) badly overpriced, and (2) doesn't work very well, yet.

Jan 05, 07 - 02:14 pm Comment from: Steven - Stock Game?

Sounds like a completely unverifyable rumor in hopes to lower Apple's stock price allowing for some high-profile investment firms to soak up more shares before AAPL moves over the $100 barrier...

If this rumor has legs over the weekend into next week, if it is false, Steve will knock it down during his MWSF Keynote.

If is has legs and Steve says nothing, begin to worry, and wait for the following week during Apple's investor conf. call to see what is going on.

If the story dies on a vine by today/tomorrow and goes nowhere, then it is what it is - which is nothing.

Jan 05, 07 - 02:21 pm Comment from: Scarbro

Say it ain't so!

Jan 05, 07 - 02:24 pm Comment from: clinicaltechmaster

did someone say that Doug Kass, founder and president of Seabreeze Partners Management, Inc., is on the verge of bankruptcy and involed in illegal trading and maybe even a sex scandal with aliens ... gosh talk about a horrible rumor ... hope it doesn't spread and cause anyone harm ...

Jan 05, 07 - 02:28 pm Comment from: maczealot

RUMOR: MDN will post any rumor, re-post the rumor, and foment responses to more rumors. That is, MDN should, in the spirit of accuracy in media, rename itself Mac Rumor Mill (i.e. MRM).

Jan 05, 07 - 02:29 pm Comment from: meatofmoose

MDN has taken a leave of absence from their senses. This is not a rumor.

Jan 05, 07 - 02:34 pm Comment from: john

This is really getting out of hand. Next rumor will be Steve Jobs will be going to the moon on the next shuttle and taking his own private rocket to the moon. Stupid especially with MacWorld coming up and he is scheduled to do his Keynote as planned. tongue rolleye

Jan 05, 07 - 02:35 pm Comment from: JOhn

Any "rumour" that comes from a trading desk can only have one aim in mind: affect the stock price.

Jan 05, 07 - 02:39 pm Comment from: Unsquirted

"Next rumor will be Steve Jobs will be going to the moon on the next shuttle and taking his own private rocket to the moon."


SHHHHHHHHHHH ! ! ! ! Dammit.

Jan 05, 07 - 02:47 pm Comment from: Cubert

Doubt it. And, the weight loss and continued difficulties putting on weight are expected consequences of his surgery (if they resected a lot of his pancreas, which I suspect they did.)

Jan 05, 07 - 02:50 pm Comment from: Ballmer Strikes Back...with a chair

Space Station to Earth: "The Fruit has fallen to the ground from the tree"


Bye Bye Apple? (and i don't mean Jobs saying this....)

Jan 05, 07 - 02:56 pm Comment from: Denny

It seems as if all of these negative rumor (cock roaches) mongers are comming out the wood work because they dislike Apple. He should just keep his mouth shut if can't substantiate this BS. It's just an attempt to create more uncertainty about Apple - he's a dope!

Who really cares what postions he's held or where he went to school. That dosen't mean he knows what he's talking about.

Jan 05, 07 - 02:59 pm Comment from: palmtwo

apple's stock price is unchanged, so the rumor has yet to gain credibility. i think there's still major uncertainty on what the sec will do about apple's options backdating.

Jan 05, 07 - 02:59 pm Comment from: pieterdebecker

All of this is absoletly true!

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