Entries in Steve Jobs (67)


Steve Jobs’ Yacht, Venus, Makes Public Debut YORK) -- Steve Jobs’ 250-foot yacht has been unveiled off The Netherlands in the city of Aalsmeer.

Jobs, who died a year ago, commissioned the yacht more than six years ago.

“I know that it’s possible that I will die and leave [wife] Laurene with a half-built boat.  But I have to keep going on it.  If I don’t it’s an admission that I’m about to die,” Jobs told biographer Walter Issacson.

As he did with any product, Jobs tinkered with the design for years, according to the book.  Designed by Philippe Starck, Venus, as the boat is named, is 70 to 80 meters (about 230 to 260 feet) long with an aluminum exterior and 10-foot high windows.

According to Dutch blog One More Thing, there is a large sun terrace with a Jacuzzi on the foredeck and a series of 27-inch iMacs in the wheelhouse.

The blog says the Jobs family gave the crew who helped build the boat iPod Shuffles with the name of the boat etched into the back and a note thanking them for their “hard work and craftsmanship.” 

Copyright 2012 ABC News Radio


Apple Pays Tribute to Steve Jobs on Anniversary of His Death

David Paul Morris/Getty Images(NEW YORK) -- If you visit on Friday, you won't be greeted by the usual bright images of the new iPhone, MacBooks, or software screenshots.  Instead, a tribute letter to Steve Jobs makes its home on the page.

Friday marks a year since the legendary CEO and leader passed away from cancer.

"I hope that today everyone will reflect on his extraordinary life and the many ways he made the world a better place," Apple CEO Tim Cook, who took over for Jobs on Aug. 24, 2011, wrote in a letter that appears after the video.  "One of the greatest gifts Steve gave to the world is Apple."

According to 9to5Mac, Cook sent out a similar letter remembering Jobs to the entire company.

Jobs passed away last year at the age of 56.  Since his passing, Apple has become the most valuable company in the world and has continued to sell millions of its products.

ABC News spoke with a number of analysts about how the company has changed since his passing.  Experts detailed that the company has become more shareholder-friendly, but has continued to make its own luck and aggressively control products, just as Jobs had always done.

"I'm incredibly proud of the work we are doing, delivering products that our customers love and dreaming up new ones that will delight them down the road.  It's a wonderful tribute to Steve's memory and everything he stood for," Cook's letter ends.

Copyright 2012 ABC News Radio


Three Ways Apple Has Changed Since Steve Jobs' Death 

David Paul Morris/Bloomberg via Getty Images(NEW YORK) -- A year after founder Steve Jobs' death, Apple is continuing on the trajectory that the late founder had in place for years, with its highly-coveted consumer products that are getting into more hands around the country, while the company makes subtle shifts and the occasional misstep.

Over the past year, Apple's stock is up almost 80 percent to over $671 after introducing the iPhone 5. Though the new phone sold over five million three days after its launch, some analysts were disappointed with the volume of orders.

Here are three ways Apple has changed since Steve Jobs' death:

1) Apple has become more shareholder-friendly.

Bill Kreher, senior technology analyst with Edward Jones, based in St. Louis, said Apple's issuance of a dividend to shareholders is a change in philosophy from that of Steve Jobs.

"His philosophy was to hoard the cash," Kreher said.

Part of Jobs' reluctance to dip into cash might have been his "long memory" when he re-joined the company in 1997.  Back then, the struggling company was burning through cash faster than it was earning it.

"When it comes to capital deployment, Tim Cook has proven to be more shareholder-friendly," Kreher said of Apple's CEO.

The company announced in March that it would start issuing a quarterly dividend of $2.65 a share for the fourth quarter, which began on July 1, from its pile of cash.  And what a pile they have: about $117 billion.

2) Apple stops focusing on "the next big thing."

"Along the lines of innovation and execution, I think that Apple has to focus more on expanding the distribution of its current products as opposed to creating the next big thing, which from our perspective suits Tim Cook very well," said Kreher.

He said Cook's focus on operations will continue to help expand the company's products around the globe.  The company now has 350 stores worldwide, including its newest country, Sweden, which opened its doors last month.

Kreher said Cook is known for his operational expertise and management of the supply chain, which is "critical" as the company moves forward, more so than coming up with the next great product.

3) Apple's financial results have become more mixed.

In the last years of Steve Jobs' reign over Apple, the company had a tendency to beat its previous quarterly earnings.

"That has changed over 2012," Kreher said.  "The revenue streams are getting more uneven and highly reliant on product launches."

For example, its third-quarter earnings announced in July were softer than expected in part due to iPhone users waiting for the iPhone 5.  The company said profit rose to $8.8 billion from $7.3 billion a year ago on $35 billion in revenue.  Analysts had expected third-quarter revenue of over $37 billion.

That was in contrast with their second-quarter earnings in April, when they had a "huge beat" that was "massive," according to analysts.

The company is still able to beat overall expectations, Kreher said, but it's getting more difficult for analysts to predict the demand of high-profile products as more consumers pause before launches.

Copyright 2012 ABC News Radio


Tim Cook Marks One Year as Apple CEO

Kevork Djansezian/Getty Images(NEW YORK) -- A year ago today, Tim Cook took over for Steve Jobs as the CEO of Apple.

And what a year it has been: Apple’s stock hit an all time high, it sold a record number of products, and just this week became the most valuable company in history, though Microsoft was still more valuable in 1999 when one accounts for inflation.

Cook, who has worked at Apple for 14 years and was previously the COO, had big shoes to fill. Steve Jobs was one of the world’s most recognizable business and technology leaders.

“Tim Cook has shown so far that he can execute to Steve Jobs’s vision,” Patrick Moorhead, president of Moor Insights, told ABC News. “The true test for Cook and Apple will come as they need to move off a specific path they were on under Jobs, or get onto a new path that Jobs didn’t envision.  I can see that time coming for Apple in the next few years.”

Forrester CEO George Colony wrote something similar in April, though he had a bit less faith in Cook. “When Steve Jobs departed, he took three things with him: 1) singular charismatic leadership that bound the company together and elicited extraordinary performance from its people; 2) the ability to take big risks, and 3) an unparalleled ability to envision and design products,” Colony wrote. “Apple’s momentum will carry it for 24-48 months. But without the arrival of a new charismatic leader it will move from being a great company to being a good company….”

Still, Cook has proven himself a worthy successor this year.  Beyond company profits, he has tackled working conditions at Apple’s factories, handled intellectual property suits between Apple and its mobile competitors, and introduced new products, including the new iPad. He is also expected to take center stage at an Apple event on Sept. 12, when the company will likely introduce the long-rumored iPhone 5.

Copyright 2012 ABC News Radio


Steve Jobs’ Home Robbed: Burglar Stole Computers

iStockphoto/Thinkstock(SANTA CLARA COUNTY, Wash.) -- A suspect is being held in connection with the burglary of the Washington home of deceased Apple CEO Steve Jobs, police said.

Authorities arrested and charged 35-year-old Kariem McFarlin with residential burglary and the selling of stolen property after over $60,000 worth of computers and personal items were allegedly stolen from the Jobs’ home on July 17.

According to Santa Clara County assistant DA Scott Tsui, the burglar does not appear to have been aware that the home belonged to the Jobs family.

“There’s no evidence to show that the house was targeted,” Tsui said, adding that once the thief got in, “I imagine there are things in the house that might hint to him that it was Jobs’ house.”

Tsui said the Jobs family does not appear to have been living at home, which was undergoing construction at the time of the burglary.

The suspect, a medical supply salesman who played football at San Jose State University, is being held on $500,000 bail. McFarlin’s next hearing is scheduled for August 20.

Attempts to reach his lawyer for comment weren’t immediately successful.

Police declined to say what led them to their suspect. “Police have a variety of methods in tracking goods and burglars in situations like this,” Tsui said.

Jobs is believed to have purchased the Palo Alto home in the mid-1990s after his marriage to Lauren Powell. He lived in the house for nearly 20 years, a time that included his second stint as Apple CEO, during which he brought the company back to profitability and introduced revolutionary products such as the iMac, iPod, iPhone, and iPad.

Jobs died at the home on October 5, 2011, from pancreatic cancer complications.

Copyright 2012 ABC News Radio


Steve Jobs Was Receptive to a 7-Inch iPad, Email Shows

Justin Sullivan/Getty Images(NEW YORK) -- While rumors have swirled about a smaller iPad -- or iPad Mini -- over the last couple of months, one thing has given many some pause: Steve Jobs always seemed to hate the idea of a smaller tablet.  On an Apple earnings call, Jobs said a 7-inch tablet would be “dead on arrival.”

But thanks to Apple and Samsung’s heated intellectual property trial, we’re learning that the former Apple CEO might have changed his tune.

“I believe there will be a 7-inch market and we should do one,” Eddy Cue, Apple senior vice president of Internet Software and Services, wrote in an email to Apple CEO Tim Cook and other senior Apple executives on Jan. 24, 2011.

“I expressed this to Steve several times since Thanksgiving and he seemed very receptive the last time. I found email, books, Facebook, and video very compelling on a 7-inch.  Web browsing is definitely the weakest point, but still usable,” Cue said in the same email.

The email was submitted as evidence in Samsung’s cross-examination on Friday, said technology website AllThingsD.

Rumors of a 7-inch iPad have gained in traction over the last couple of months.  Bloomberg reported last month that Apple would release the smaller tablet before October.  iMore, an Apple-focused news site, has said it will have a 7.85-inch screen and also believes it will be introduced at an event on Sept. 12.

Recently, Google released a 7-inch Nexus 7 tablet for $200.  It is rumored that the smaller iPad would be around that price.  Apple has declined to comment on the iPad Mini rumors over the last couple of months.

Copyright 2012 ABC News Radio


Steve Jobs US Files Provide New Details on Drug Use, Kidnap Worry

Tom Munnecke/Getty Images(WASHINGTON) -- Recently released Pentagon documents indicate that in the 1980′s Steve Jobs expressed concern that his daughter might be kidnapped in an effort to blackmail him.  The documents also provide more information about the Apple co-founder’s drug use as a teenager as well as a previously unreported arrest in 1975 for having failed to pay a speeding ticket.

The new details are included in 1988 documents processed by the Defense Investigative Service that were obtained by the online magazine Wired through a Freedom of Information of Act request.  At the time Jobs had applied for a Top Security clearance when he headed up the computer firm Pixar.

The newly released Pentagon documents provide additional information to details first made public in February, when in another FOIA request, the FBI released a 1991 background check conducted when Jobs was appointed to the President’s Export Council. Those documents briefly mentioned that Jobs had a Top Secret security clearance when he headed Pixar.

According to Wired, the DOD documents don’t explain why Jobs had applied for a Top Security clearance in 1988.  However, it notes that Walter Isaacson’s biography of Jobs said Pixar required a security clearance because of company contracts with intelligence agencies to render information gathered by reconnaissance flights and satellites.

As part of a standard line of questioning, investigators reviewing his application asked Jobs how he might be blackmailed.  He replied that he had a daughter out of wedlock whom he felt might be the target of a kidnapping.

“The type of blackmail or threat that could be made against me would be if someone kidnapped [her],” he said.  Though he believed any kidnapping attempt would be motivated “for the purpose of money, not because I may have access to classified Top Secret material or documents.”

Jobs said that if he did receive his clearance, “there can be a possibility of blackmail and I do acknowledge this fact.”

In his application, Jobs provided precise details about his previously reported use of LSD, marijuana and hashish during his youth.

Jobs wrote, “I used LSD from approximately 1972 to 1974. Throughout that period of time I used the LSD approximately ten to fifteen times. I would ingest the LSD on a sugar cube or in a hard form of gelatin. I would usually take the LSD when I was by myself. I have no words to explain the effect the LSD had on me, although, I can say it was a positive life changing experience for me and I am glad I went through that experience.”  In a handwritten portion next to the statement, that was initialed by Jobs, he wrote, “This was the reason I used LSD.”  At the time Jobs would have been 17 to 19 years of age.

He admitted to having smoked marijuana and also to having eaten it in cooked brownies from 1972 to 1976 about once or twice weekly.  He admitted to having used hashish five times during that time frame. He told investigators that using marijuana and hashish made him “relaxed and creative.”  In another document he responded “none” to the question of intentions for future use.

The documents note that investigators asked Jobs about why he had failed to point out in his questionnaire that in 1975 he had been arrested in Eugene, Ore., for not having paid a $50 speeding ticket.

He explained that “while being questioned behind a store in Eugene, Oregon for being a minor with possible possession of alcohol, I was arrested for an outstanding warrant for not paying a prior speeding ticket.” At the time, Jobs would have been 20 years of age

Jobs wrote that because he did not have any alcohol he was “therefore not arrested for that reason."  He added, “I satisfied the warrant by paying off the fine of approximately $50.00."  He said the police review of records found an outstanding arrest warrant for the unpaid speeding ticket.  He was arrested on the spot, Jobs said he paid the speeding fine “and that was the end of the matter.”

Jobs wrote in a statement that he had not mentioned the incident because he didn’t think it was an “actual arrest” but “was only for not paying my speeding ticket which I eventually paid.”  He said he “had no intentions of falsifying” his questionnaire by not mentioning the incident and did not think about it while answering it.

Jobs died last year after a long battle with pancreatic cancer.

Copyright 2012 ABC News Radio


Apple Announces Dividend, Buyback

Kevork Djansezian/Getty Images(CUPERTINO, Calif.) -- In a major turn away from the years when Steve Jobs was in charge, Apple Inc. is finally loosening up its purse strings, announcing both a $10 billion stock buyback plan and a dividend for shareholders.

Apple’s announcement Monday morning was a cautious one, and widely expected by investors. The quarterly dividend of $2.65 a share is equal to a yield of 1.8 percent based on the current stock value. The payout by the world’s most valuable company is less than the dividend awarded by Microsoft, Hewlett-Packard and several other big tech companies.

Because of soaring sales of iPads and iPhones even with this announcement, Apple’s $100 billion horde of cash is likely to keep on growing in the future.

“A quarterly dividend will provide current income for shareholders and we also believe it will broaden Apple’s investor base by attracting new investors who don’t currently own Apple stock,” Apple CEO Tim Cook said.

video platform video management video solutions video player

The divided opens up ownership of Apple shares to a wider range of mutual funds. Many value-oriented products are not allowed to buy stocks that don’t pay dividends.

For years, Steve Jobs resisted calls to pay dividends. He used to say that the money was better used to give Apple maneuvering room, for instance by giving it the ability to buy other companies.

Cook and CFO Peter Oppenheimer reassured analysts and reporters that they have more than enough cash to grow their business.

During a conference call Cook said he doesn’t see a “ceiling for opportunities” and that “innovation is the most important objective at Apple and we will not lose sight of that.”

He added that “these decisions will not close any doors for us.”

Oppenheimer pointed out that Apple has plenty of domestic cash to go ahead with the dividend and buyback plan. When asked how Apple will be using its large overseas cash holdings, he said Apple’s position is that U.S. tax law “provides a considerable economic disincentive to U.S. companies that might otherwise repatriate cash.” In other words, Apple does not want to pay the tax.

Apple stock rose 1 percent in trading Monday morning.

Copyright 2012 ABC News Radio


Steve Jobs’ FBI File: Bomb Threat, Drug Use Noted in Background Check

David Paul Morris/Getty Images(WASHINGTON) -- Steve Jobs, the Apple co-founder who transformed personal computing, communications and other fields with such products as the iPhone and iPad, also had a 191-page FBI file that detailed a federal background check, a bomb threat on his home and second-hand reports of drug use.

Released Thursday under a Freedom of Information Act (FOIA) request, the FBI file shows that Jobs’ background was checked in 1991 for an appointment to the White House Export Council under President George H.W. Bush; and that he and other Apple employees were targets of a bomb threat in 1985.

The file reveals no felony convictions and dryly lists lawsuits in which Jobs was involved, but also cites unnamed associates who mentioned Jobs’ drug use and questioned his “honesty.”


In the 1991 FBI background investigation, an agent wrote, “Several Individuals commented concerning past drug use on the part of Mr. Jobs.”

The file adds, “Mr. Jobs also commented concerning his past drug use.”

On the same page, it notes, “Several individuals questioned Mr. Jobs’ honesty, stating that Mr. Jobs will twist the truth and distort reality in order to achieve his goals.  [Name redacted] also advised that he was aware that Mr. Jobs used illegal drugs, including marijuana and LSD while they were attending college.”

The file also notes that “based on the background information furnished by Mr. Jobs, he has no close relatives residing in communist-controlled countries.”  Former associates at Apple said they “recommended him for a position of trust with the Government.”

The file was posted on the FBI's website Thursday morning.  Most of it was compiled at the request of the White House in 1991, when Jobs was president of NeXT computers and owner of the then-struggling Pixar software company, which would later make such films as Toy Story.  Jobs, ousted from Apple in a 1985 power struggle, returned in 1996 and became its CEO in 1997.

The 1985 bomb threat concerns someone who was demanding $1 million and claimed to have placed explosives in Jobs’ home along with those of three other Apple employees.  The threat was traced to a hotel near the San Francisco Airport Hilton.

Copyright 2012 ABC News Radio


Apple Doubles First Quarter Sales, Sets $46 Billion Tech Record

Chris Ratcliffe/Bloomberg via Getty Images(CUPERTINO, Calif.) -- Despite the passing of the company’s co-founder and CEO Steve Jobs last October, Apple managed to have a stellar quarter to kick off its 2012 fiscal year, with sales of their beloved iPhone doubling the previous year’s numbers for the same period, blowing away Wall Street’s expectations.

Apple sold approximately 37 million iPhones and 15.4 million iPads in its first quarter, which ended Dec. 31.  The company’s first quarter profit more than doubled to $13.1 billion, up from $6 billion a year ago.  Sales rose 73 percent to $46.3 billion from $26.7 billion for the same period in 2010.

“We would attribute it to just a breath-taking customer reception of the iPhone 4S,” CEO Tim Cook said Tuesday.

The iPhone 4S, with its new personal assistant application Siri, has proven to be a hit with consumers, who again flocked to Apple stores in droves when the phone was rolled out in October.

Apple didn’t do too shabby on the personal computer end of its business either, with 5.2 million Macintosh computers sold in the quarter compared with 4.1 million in 2010.

The company looks forward to a rosy second quarter too, with $32.5 billion in revenue projected.

Copyright 2012 ABC News Radio

ABC News Radio