News, info, and opinion by Mac users, for Mac users.

January 29, 2008

apple

We just need a poster

Posted Jan. 29, ’08, 7:20 AM PT by Derik DeLong
Category | Apple

Hang in there It’s becoming infamous. Ok, it’s a rumor, but it’s just such a meaningless one! Steve Jobs has supposedly sent out a memo now known as the “Hang in there” memo. While the title of Apple Insider’s piece seems to indicate that Steve was reassuring investors, the article itself says that the memo was sent to employees. That’s exactly why it’s not terribly ground breaking.

“Wow… what a remarkable last few days,” he wrote in an email to employees, a copy of which was obtained by AppleInsider. “Our stock is being buffeted around by factors a lot larger than ourselves.”

The Apple co-founder expressed sadness for many of the company’s investors who may have seen their investments fall under water, but encouraged those with positions to put the matter into perspective by examining the performance of Apple shares over the past 24 months.

Survey says… Jobs wasn’t expressing sadness for many of the company’s investors. Let’s be honest, he’s depressed that the swing in stock price has virtually robbed him of millions of dollars in stock. He’s sad for the one investor that matters, him.

He goes on to explain that the company is actually doing well (true) and that the swing is more of a general market thing (also true, Randy Newman was right on the mark when he called daytraders gamblers). This type of memo is typical of most corporations. Most leadership in major companies do send out emails to address the concerns of their workforce. So let’s move along. And buy one of those posters. Can someone Photoshop Jobs head onto the cat?


3 Comments

Walt Author Profile Page said:

I for one can't complain. I bought my shares for around $15 each. 2 splits since then. I'm still lookin great!

January 29, 2008 7:55 AM
fletcher Author Profile Page said:

I've spent some time with engineers from companies like Cisco, Apple, Microsoft, etc.. The engineers usually own a fair amount of stock through purchase plans or just investing in their own company. This was a few years ago so the popular method of staying in tune was to get the stock price messaged to their cell phones. Today, they are probably glued to their iPhone watching the little graph.

If the stock price has changed then there is going to be a lot of noise around the Apple campus. There could be some pretty depressed people if they were planning on cashing out or if they had taken a risky loan using options as collateral.

In short, it makes sense for the CEO to want to offer reassurance so discussion of the stock price doesn't overwhelm the work everyone needs to be doing.

January 29, 2008 8:03 AM
Dave-O said:

All I know is that I am going to have to buy some if it goes much lower.

January 29, 2008 9:59 AM

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