Bloomberg mistakenly publishes Steve Jobs' obituary then retracts it

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Aug
28

By: switchtoamac at: 9:52 AM on August 28, 2008 | Comments (1)

Gawker reports that at 4:27 p.m. on August 27, 2008, Bloomberg mistakenly published the obituary of Steve Jobs, the iconic CEO of Apple Inc.  Once the error was identified, the story was immediately retracted.

Prepared obituary
We now see that Bloomberg has a obituary prepared and written for Mr. Jobs.  It will only require minor updates if and when publication is necessary.  Note that this type of preparation is not uncommon for notable people.  The Associated Press is known to have hundreds of prepared obituaries.

Health History
Jobs successfully battled pancreatic cancer five years ago while keeping it secret (as per  prior reports) for nine months as he researched alternative treatments.  Worries resurfaced this year following Jobs' appearance at Apple's annual developers conference.  Following the speculation, an Apple spokesperson stated that Jobs was suffering from a "common bug" and was on antibiotic treatment.  During Apple's most recent earning conference call, Apple CFO was asked about the condition of Jobs health.  He responded with: "He serves as the CEO at the pleasure of Apple's Board and has no plans to leave Apple. Steve's health is a private matter."  That immediately sent about shares down as the stock plunged 10 percent in after hours trading only to recover a day later.  It was later reported that Jobs has a surgical procedure related to his weight loss.

Most Valuable CEO
Earlier this year, Barron's magazine a respected publication on Wall Street published a list which identifies the world's best CEOs.  Jobs was described as the "arguably is the world's most valuable CEO and whose unexpected departure could cut 30 or 40 points from the price of Apple shares".  It goes on to state, "That makes him a $25 billion man".  Apple's stock was priced at approximately $130 per share at the time.  It currently checks in near $175 per share.  It therefore should be noted that Apple's stock would have likely been volatile if the reports was published during U.S stock market trading hours.

You can read about the now yanked Bloomberg report at Gawker (includes full obituary) and Yahoo.

1 Reader Comments

Wow, that's messed up. I wonder how much Apple stock would have dropped if the report was released during the trading day.

From Jobs' perspective, imagine reading what will be published about you before you actually leave this earth. Kinda freaky.

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