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Fri, Jul 03, 2009 - 07:25 PM EDT  —  AAPL: 140.02 (-2.81, -1.97%)  |  NASDAQ: 1796.52 (-49.20, -2.67%)

CNBC’s Goldman: Apple’s Jobs may be in serious denial about severity of his health problems
Wednesday, January 14, 2009 - 08:42 PM EDT

"By now you know the news, that Apple CEO Steve Jobs is admitting that his health issues have not only become a serious distraction for him, his family and the Apple community, but they've also become more 'complex' than Mr. Jobs had originally thought," Jim Goldman reports for CNBC. "He'll take himself out of the day-to-day limelight of the company for the next six months, but not relinquish his role as CEO. Day-to-day management will now go to Chief Operating Officer Tim Cook, who assumed the same responsibilities when Jobs underwent surgery for pancreatic cancer back in 2004."

"There will be myriad questions as to how Apple has handled this issue... But the biggest question I have centers very much on the present," Goldman reports. "Last week, Jobs released a statement acknowledging a "hormonal imbalance" as the reason why his body remained so thin. It was only after 'sophisticated' blood tests that doctors finally pinned down what was plaguing him. He said in the note then that as soon as he determined he was unable to perform his duties as CEO, he'd be the first to step forward and admit it. All along, sources (and yes, there are several) inside Apple have reassured me that Jobs was firmly in charge, executing his responsibilities, and performing his role as CEO. One source, who I have known for years, told me recently that Jobs was 'fine,' and that everything was under control. All of it was fine. And I stand by every word of that reporting. Even today."

"What troubles me is what has transpired over the past week. Sophisticated tests showed Jobs he was suffering a hormone imbalance. And only a week later, he admits that something happened in these intervening days that showed him his health-related issues are more complex than he originally thought. Come on. Forgive my skepticism. That seems disingenuous to me at best; dishonest at worst. It's tantamount to fiduciary, ethical and financial whiplash," Goldman reports.

"The fact is, late last week I spoke to two well-known tech industry executives, both of whom are very close to Jobs, and one of whom had been speaking to Jobs regularly up until a couple of months ago. Neither has an axe to grind, and neither needs to manipulate Apple stock to make more money," Goldman reports. "Trust me when I tell you that both have plenty. What struck me was that both felt compelled to come to me to tell me that they had 'serious misgivings' about the state of Jobs' health. One said, based on his contact with Jobs personally, that he was in 'serious denial' about just how bad the circumstances had become. The other explained to me that he was 'deeply concerned' about Jobs, and the sudden lack of communication, the non-return of emails, ignoring chat requests, unreturned phone calls was a strong indication to him that Jobs was in 'dire' shape."

Goldman reports, "Both of these executives admitted that they had no direct knowledge of Jobs medical treatment. But both also said they were making their judgments based on their past relationships with Jobs, what he had told them, and how he was acting today... All this company had to do was be upfront with everyone from the beginning. Not telling us what we all wanted to know. But what we needed to know. Apple could have broken new ground on this front, ignited a new realm of transparency. Instead, it chose a different path. And shareholders, fans, and the Apple community are paying the price."

"That's too bad," Goldman writes. "I truly hope that Jobs comes back when he says he will, in June. But realistically, even though he says otherwise, I'm not banking on it."

Full article - very highly recommended - here.

MacDailyNews Take: Please read Goldman's full article before commenting below as there is much more background that we could not excerpt above. Goldman was working on a report regarding Jobs' health situation and was in contact with Apple about what his sources were confiding. That fact may have contributed to helping Jobs to decide to take the leave of absence. In our opinion, Jim Goldman is a straight shooter. We're praying for Steve Jobs.

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Jan 14, 09 - 09:54 pm Comment from: ominous anonymous synonymous hiphopoppotamus

This guy survived pancreatic cancer. Pancreatic cancer is considered impossible to survive and uncureable.

Leave this guy's company alone. He's been through enough.

Jan 14, 09 - 10:03 pm Comment from: Jubei

So basically even Goldman is now convinced that this is all a ruse to us. Steve Jobs is really dying and in denial.

Jan 14, 09 - 10:22 pm Comment from: Another IT Guy...

Crass motherfsckers posing as concerned analysts. Like they actually give a damn about Jobs' health outside of what he can do for the share price. I mean, the guy is fighting for his life in a battle I certainly hope I never have to face.

Find some fscking class, you miscreants.

Jan 14, 09 - 10:27 pm Comment from: DenisRS

"And shareholders, fans, and the Apple community are paying the price."

**********************************************

No matter what Goldman says, Steven Jobs' telling or not actual status would hurt share's price either way. Apple's shares were becoming cheaper for the past half year anyway exactly because of Jobs' health concerns.

And if Jobs would knew and tell his condition earlier outright, then Apple's shares would be falling anyway.

Thus any moaning from Goldman or whoever about this matter is totally nonsensical, counter-productive.

There is no any additional losses to shareholders' value, nothing would change for them no matter what Apple would do. So question whether the company handled Jobs' health issue right or not is pointless.

Jan 14, 09 - 10:28 pm Comment from: TomBoy

Please. Let's afford the man the same dignity that we all might want regarding our own health and personal life. Ignore the uninformed speculation, and act upon your own human decency and compassion.

Jan 14, 09 - 10:34 pm Comment from: Mark S.

Goldman has it all wrong: Jobs knows how serious his health condition is and is keeping quiet for a number of reasons.
Like Goldman, I hope that Mr. Jobs comes back to Apple in June.

The idea of Tim Cook running Apple for any length of time has no appeal for me.

Jan 14, 09 - 10:35 pm Comment from: Buster

Steve's not well. If he is dying then I am impressed that he would choose to continue working so hard with Apple. I assume he is not since I doubt that he or anyone else would work so hard at this stage.
I assume he is sick and being dedicated he will stay on top of things but leave the day to day to someone else.
Get well Steve.

Jan 14, 09 - 10:37 pm Comment from: DenisRS

**********************************************

"And shareholders, fans, and the Apple community are paying the price."

**********************************************

What a marvellous quote this is; I have to quote it for the second time.

Since, as I showed above, no one actually "paid" any more in this situation than in whatever else scenario related to how Apple would handle Jobs' health issue, what this quote actually wants from the company and Steven?

Should he ask "shareholders, fans" to forgive him for being sick?

"How he dares to become sick? shareholders pay!"

And if he will not return, then "shareholders, fans" should condemn and damn him for not surviving or what?

Jan 14, 09 - 10:39 pm Comment from: jeffgtr

It is entirely possible his doctors told him he really needed to take time off to recover. Many people have to do that to beat an illness or injury. This is a bad analogy but surely you've known someone that had the flu but yet they doggedly come into work every day and wound up in the hospital with pneumonia? Everyone told them they needed to go home and get some rest but they refused. Perhaps Steve is just following his doctors advice. I still feel that there is just too much wild speculation and we should sit tight and see how this shakes out.

Jan 14, 09 - 10:40 pm Comment from: It's About Time

Pancreatic issues are serious. They are difficult to accurately diagnose and treat effectively, especially in traditional medical circles. I suspect the cancer condition may have returned. "More complex" says quite a bit, especially when it triggers a 6 month leave.

Job's has the look of (at best) not assimilating sugars, fats, carbs or (at worse) having serious liver deficiencies affected by the pancreas/spleen. Let's hope its the former rather than the latter.

Taking himself out of the loop IMO is something SJ ought to have done months ago. I hope for a speedy recovery and a return of his strength.

Jan 14, 09 - 10:42 pm Comment from: Ken

The first thing any reporter should have done is to check on the Whipple Procedure that Jobs underwent. There is Google to make it easier for them - and us.

Check out the Mayo Clinic listing - it has some rather graphic drawings showing where the surgery impacts the patient and also a post-surgery drawing. It's a huge surgery and, yes, it does impact the ability to maintain weight.

Another site for the reporter to check could have been the Wikipedia listing. It even talks about some new approaches to the procedure in Europe that makes it easier to maintain weight.

Now throw in a bit of review of the comments about Jobs diet preference and you know that he's not a Big Mac fan.

The fact is that we really don't know what is going on with Jobs. Lack on knowledge has simply left most bloggers falling back on the cancer issue. Checking out other factors simply takes too much efforts for too many people.

Jan 14, 09 - 10:50 pm Comment from: Jubei

Looks like Gizmodo was right and vindicated. They certainly are shouting it loud and clear on their site. As they should, since in all likely, that they were correct after all.

Jan 14, 09 - 10:54 pm Comment from: B

Pray for Steve.

Jan 14, 09 - 10:57 pm Comment from: Macbones

Wow. SO many experts. He suffers from malabsorption. Until you know otherwise, that is what he has got. Every person who has the surgery he had will have malabsorption, and a pathological kind, not the "wheat gives me the runs" BS in vogue today. I would not be surprised if he misunderstood what his doctors told him, as the term sounds so benign and fixable. He will fight hard for every pound.

Leave the man alone, and hope for recovery.

Jan 14, 09 - 10:59 pm Comment from: Reality Time

Jubei,

How could Gizmodo have been right on Dec. 30th if "during the past week" Jobs learned that his "health-related issues are more complex" than he "originally thought?"

Either Jobs or Gizmodo are lying as they both can't right.

Jan 14, 09 - 11:01 pm Comment from: JRA

The sooner Apple can demonstrate that it can work without Steve -- the better. It is a company that is bigger than any one person - even its creator.

Jan 14, 09 - 11:02 pm Comment from: Mark S.

I'd like to see Woz back at Apple, but he's doing whatever and I doubt he seriously has given Apple much consideration for quite a while.
Even if he did come back I'm not sure he'd have the impact that Mr. Jobs has had.
(I'm trying to be careful and kind with my words.)

Jan 14, 09 - 11:07 pm Comment from: Kevin

First and foremost I sincerely hope Mr. Jobs is able to make a recovery to the point that allows him to once again take the helm at Apple at sometime in the future.

But should that not be possible I do believe that Apple has enough talent to continue on without him indefinitely. I do believe that Mr. Jobs has assembled his team of talented people and instilled in them his beliefs on fusing technology and art to make worthwhile products that enhance and enrich the user's experiences and lives.

This should be a none issue, Apple is bigger than Mr. Jobs now. After his 2nd coming he has positioned Apple in a much better place. Apple was on the edge of irrelevance before his return, but he resurrected it. I truly believe the mistakes made in the past will never happened again.

If this were a report about Steve Balmer and not Steve Jobs would MS stock take such a hit? Name one other CEO that this sort of news would create as much fuss about.

Jan 14, 09 - 11:13 pm Comment from: Bill

Well some executives who seem to actually know something about his medical treatment (more than merely speculating) offer this in the New York Times:

"Two people who are familiar with Mr. Jobs’s current medical treatment said he was not suffering from a recurrence of cancer, but a condition that was preventing his body from absorbing food. Doctors have also advised him to cut down on stress, which may be making the problem worse, these people said."

http://www.nytimes.com/2009/01/15/technology/companies/15apple.html

Jan 14, 09 - 11:23 pm Comment from: rwinters

I saw Clint Eastwood over the weekend in Gran Torino and by the end of the movie many, including myself, were shedding some tears. For me, it was not just the movie but knowing that this great actor will not be with us that many more years.

Steve Jobs has been such a force in high tech that it is hard to imagine Apple or the industry without him. I think we better prepare that happening. I did the quick month count and he says he will be back in June. How many times do we hear of a friend or colleague who has been told by a doctor that they only have six months to live.

I hope I am wrong but a discussions with my brother just last week ended with me telling him that I think things are worse for Steve Jobs than we know. My prayers for Steve Jobs and his family.

Jan 14, 09 - 11:38 pm Comment from: nomoremsbs

Steve,
Thank you for all you have done to change the world. It is Amazing
what you did in round 1. It's been even more amazing what you did in round 2.
We hope you feel better soon. we look forward to a reinvigorated you, coming back when you are ready. Try to enjoy the time off.
And we really look forward to you changing the world even more
when you come back for round 3. They say 3rd time is a charm.

Jan 14, 09 - 11:39 pm Comment from: Jubei

@Reality Time

Well what they reported turned out to be true right? So I guess Gizmodo was right and SJ was not truthful about his situation. Thats how they are reporting it.

Jan 15, 09 - 12:23 am Comment from: james

Thanks for information very good wink

Jan 15, 09 - 12:43 am Comment from: Natalie Hansen

Wow! Judging by your comments I guess you or anyone you know has not had an illness that couldn't be determined very quickly. Medical tests do take time and not always are clear with the first testing that is done. I think you should give him the benefit of the doubt before you start calling him dishonest based on "facts" from so called insiders who have no first hand knowledge of his illness. I think its time to put this to rest and let him recover in peace.

Jan 15, 09 - 12:45 am Comment from: Ferf Muckmeyer

Goldman is pretty well connected so his story probably has a lot of validity to it.

But although Steve may be very ill, no one outside of his family or his inner circle really know how ill he is. So to jump to conclusions that his condition is "dire" or he is dying is a bit much. Goldman may have pushed the issue with Apple and some of Jobs' tech acquaintances, but it still reveals little.

I hope and pray for Steve Jobs to get better and get past all of this. I just pray that things aren't as bad as Mr. Goldman is painting for everyone.

Jan 15, 09 - 12:54 am Comment from: CYxodus

I'm praying for you, Steve. Get well.

Jan 15, 09 - 01:01 am Comment from: Bizlaw

People, keep in mind that medicine is NOT a precise science – everyone is different, and medications, surgical procedures, environmental factors, diet, etc. all affect people in different ways.

It very well could be that Jobs had a very recent significant setback in his health, although I find that unlikely a week from the initial press release about his health. However, it may be that, by taking time off and not preparing for a Macworld keynote, Jobs (or his family) convinced him to take a leave of absence to concentrate on getting better. Maybe he felt better not working as much.

Hopefully the leave of absence will allow him to get things straightened out. If the release is accurate and the doctors actually do know what is wrong with him, then perhaps they can help him.

Jan 15, 09 - 01:29 am Comment from: Jake

It is more than a bit disgusting to read all the carping and cynical charges that Jobs has been lying. There is NO basis for it; in fact, any rational analysis suggests he is being honest. If this has been some clever deception on Steve's part, why change the official story so radically just ONE week after the most recent public statement?? Obviously, Jobs found out something in the last week, just what he said today. I'm not surprised Goldman is acting so slimy; he has no loyalty toward Apple and he thinks he's helping himself by bashing Steve, to cover for the fact that his recent reporting turned out to be wrong. Obviously, Steve turned out to be incorrect about his health status; that is very different from intentionally lying! But I do expect better from Apple/Mac fans. Those of you bashing a sick man who just found out his health is worse than he thought should be ashamed of yourselves, especially since you benefit from all the great products his company has created.

Jan 15, 09 - 01:47 am Comment from: Bill

Here we go. Dan Lyons takes on Jim Goldman over Jobs. Boy, Lyons is an a**hole.

http://www.youtube.com/watch?v=g47goge2S6I

Jan 15, 09 - 02:20 am Comment from: Jubei

It's a shame that journalistic integrity has taken the back seat to sensationalism and paparazzi type reporting. Losing Levy and hiring that rude Jobs hating person was a huge mistake by Newsweek.

Jan 15, 09 - 02:47 am Comment from: iWill

Hopefully, Saint Steven will be allowed to heal in peace.

Be well, Steve. We love you.

Jan 15, 09 - 04:33 am Comment from: DenisRS

*******************************************

After watching Goldman on a live show it is even more clear that the harshness of blame he tries to put on Jobs is probably from the fact that he was telling that Steven is "fine" just a week ago and not it turned out that he, Goldman, was telling lie.

So this whole thing has nothing to do with Steven Job's, whose doctors could have indeed re-evaluate his conditions. ***** It is quite often case with such complex things like Jobs has *****.

Thus Goldman's disbelief in such scenario is, again, is probably a mere consequence of him trying to keep his face in front of public.

Jan 15, 09 - 05:22 am Comment from: Derek in Milan

I like Jim Goldman - I think he's OK.
I dont think he means any harm to the SteveMeister.

Jobs is one of the smartest and most interesting people on this planet.
I also think he's a very cool guy.

I like the guy and I am really upset that he might not recover from this thing, whatever it is.

Apple is one of a kind, and thats because Steven P. Jobs is also one of a kind.

I sit here typing on my Macbook Air and I see Steve at last years Macworld, so happy showing off his skinny computer in an office brown envelope.
I HAD to have one, and I love it.

Its the end of an era - and I am very sad.

Jan 15, 09 - 05:57 am Comment from: Appeal for nicer journalism

For God's sake, the guy is sick, why can't you leave him alone.

As Song Il-Ho, North Korea's ambassador said, "We see such reports as not only worthless, but rather as a conspiracy plot."
http://en.wikipedia.org/wiki/Kim_Jong-il#2008_health_and_waning_power_rumors

Jan 15, 09 - 07:58 am Comment from: R

Everyone is so gloomy and it makes no sense, nor does it help anything. I can only imagine what your friends and relatives must experience when something medically serious happens to them. Does everyone just push them out on some ice-flow at the first indication that something's up? Man, this form of whining is remarkable.

It's not the end of an era, yet. It may be, but geez, give the man a chance to recuperate and stop making it out that the thousands of people at Apple don't ultimately make the products. Steve doesn't stitch each product out of magic dust in his Wonka-like bedroom. Steve has style and class. He vetoes ideas and inspires. But he is not the only one capable of those things.

have faith, or jump off a bridge already if the end is so near. And God forbid you ever struggle with an illness. It sounds like half of you will start passing out all your personal effects at the initial diagnosis.

Ugh.

Jan 15, 09 - 08:41 am Comment from: The Muffin Man

I think we can safely assume that cancer is not the issue here, and that it's a case of pancreatic insufficiency.
You can live to a ripe old age with this health issue.
The doctors probably told him that his condition is worse than he thinks and he needs a certain course of treatment and much less stress for a full recovery.

In other words, I think that there's a very good chance that he'll be back to take over the helm again.

Jan 15, 09 - 12:30 pm Comment from: TheHossBossSgt.

The (Finest & BEST OF RECOVERY to You) Mr. Jobs!!!!!

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