STEVE JOBS MOVING ON!

“To the Apple Board of Directors and the Apple Community: I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come. I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee. As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.”

With those words, more than likely, an end of an era. Knowing Mr. Jobs’ past health problems, his words seem ominous. Let’s just hope they are not. I consider Apple and Steve Jobs the single most important positive business story of the past decade. Apple was toast in the early 2000s but because of one man’s vision, this company has become arguably the #1 brand name in all the world. Steve Jobs’ vision is iconic. I remember my first thoughts upon release of the IPOD…”This is nothing more than a Walkman!” Nice call, Gary.

I will leave it to others to predict the outcome and whether Tim Cook will be up to the job. I figured at this point in time, I would just  include a link to a commencement address Steve Jobs gave a few years back. It will speak for itself. Over-the–top fabulous.

httpv://www.youtube.com/watch?v=D1R-jKKp3NA

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.